On August 1,2013,Ace Corporation Accepted a Note Receivable in Place

question 17

Multiple Choice

On August 1,2013,Ace Corporation accepted a note receivable in place of an outstanding accounts receivable in the amount of $123,965.The note is due in 90 days and has an interest rate of 8%.What would be the total amount collected at the maturity date?

• A)$123,965.00
• B)$2,479.30
• C)$126,444.30
• D)$121,485.70
• E)$133,882.20

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Definitions:

Chi-square Statistic

A statistical measure used in tests of independence or goodness of fit, quantifying how expected counts compare to observed counts.

Null Hypothesis

The hypothesis that there is no significant difference between specified populations, any observed difference being due to sampling or experimental error.

Statistically Significant

A term indicating that the observed effect or relationship in data is unlikely to be due to chance, based on a predetermined significance level.

Null Hypothesis

An initial assumption which posits that no meaningful variance or impact exists, serving as the basis for beginning statistical analysis.