On November 1, Year 1, Honor Inc., borrowed $92,000 from West Bank and signed a...
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On November 1, Year 1, Honor Inc., borrowed $92,000 from West Bank and signed a 6%, six-month note payable, all due at maturity. The interest on this loan is stated separately. The company has a calendar year-end. How much must pay Honor West Bank on May 1, Year 2, when the note matures? Multiple Choice $92,000 $2,760 $94,760 $97,520 4 2015
On November 1, Year 1, Honor Inc., borrowed $92,000 from West Bank and signed a 6%, six-month note poyable, all due at maturity. The interest on this loan is stated separately. The company has a calendar year-end. How much must pay Honor West Bank on May 1, Year 2, when the note matures? Multiple Choice $92,000 $2,760 $94,760 $97,520
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