Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. craig borrowed $2,100,000 on october 1, 2020 and i

Craig borrowed $2,100,000 on October 1, 2020 and is required to pay $2,160,000 on March...

60.1K

Verified Solution

Question

Accounting

Craig borrowed $2,100,000 on October 1, 2020 and is required to pay $2,160,000 on March 1, 2021. What amount is the note payable recorded at on October 1, 2020 and how much interest is recognized from October 1 to December 31, 2020? $2,100,000 and $0 $2,160,000 and $0 $2,100,000 and $36,000 $2,160,000 and $60,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students