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nts Payable 51) On October 1, 2015, Android Ine. to one note for $100,000 at...

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Accounting

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nts Payable 51) On October 1, 2015, Android Ine. to one note for $100,000 at 15%. Calculate the maturity value A) $105,000 B) $75,000 C) $25,000o D) $95,000 made a loan to one of its customers. The customer signed a 4-month of the note. 52) The maturity value of a note is the: A) principal amount minus interest due. s interest due. B) principal amount plu C) face amount of the note. D) principal amount times the interest rate. 53) Up-to-date Mercha ndisers has the following transactions for the month of July $460,000 300,000 les revenue ost of goods sold les discounts les returns and allowances 85, 20, ting expenses nterest revenue Calculate Gross Profit. A) $90,000 B) $125,000 C) $140,000 D) $160,000 54) When a check is issued, the party who is paying the cash is referred to as the: A) payee. B) maker. C) bank signatory D) depositor 5) The maturity date for a six-month note issued on January 15 would be: )July 15 July 14 July 16. July 10 17

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