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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
On December 1, 2017, Going Places, Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale but agreed to pay 9 months later and signed an 9-month note at 10% interest. What was the total amount of cash collected by Going Places on the maturity of the note? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $21,500
B) $1,500
C) $18,500
D) $22,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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