Gold Company Received a Two-Month,12% Note for $8,000 on June

question 82

Multiple Choice

Gold Company received a two-month,12% note for $8,000 on June 16.Which of the following statements is true?

• A)Gold will receive $8,000 plus interest of $960 at maturity.
• B)Gold should record a total receivable due of $8,080 on June 16.
• C)The principal of the note plus interest is due on August 15.
• D)The maturity value of this note is $8,000.

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