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  3. assuming a 360-day year, when a $72,000, 90-day, 7

Assuming a 360-day year, when a $72,000, 90-day, 7% interest-bearing note payable matures, the total...

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Assuming a 360-day year, when a $72,000, 90-day, 7% interest-bearing note payable matures, the total payment will be Round your answer to the nearest whole dollar. Oa. $73,260 Ob. $72,000 Oc. $77,040 Od. $5,040 A fixed asset with a cost of $53,777 and accumulated depreciation of $45,710 is traded for a similar asset priced at $59,673. Assuming a trade- allowance of $5,687, the recognized loss on the trade is Oa. $2,380 Ob. $8,067 Oc. $5,687 Od. $13,963 On December 31, Strike Company sold one of its batting cages for $14,214. The equipment had an initial cost of $431,300 and has accumulated depreciation of $409,735. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? Oa. Loss of $7,351 Ob. Gain of $7,351 Oc. Loss of $14,214 Od. Gain of $14,214

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