Answer:
c. $500,000 + .40X = X
Explanation:
Please see attachment
Jane and Bart organized food truck business- Just Best Food Inc (JBF Inc.). JBF Inc. decided to follow accrual method of account
ing. JBF Inc. borrowed $8,000 from the bank on November 1, 2015. The note had a 5 percent annual rate of interest and maturity on April 30, 2016. Yes, it was a short-term debt. Interest and principal were paid in cash on the maturity date. What total amount of cash was paid to the bank on April 30, 2016, for principal and interest
1 answer:
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