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Linda_us, Finance, Accounts & Homework Tutor
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FOR LINDA 1. A company receives a note payable for $3,500

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1. A company receives a note payable for $3,500 at 9% for 45 days. How much interest (to the nearest cent) will the customer owe using a 360-day year?

A. $39.38

B. $315.00

C. $354.38

D. $38.84

2. If a $6,000, 10%, 10-year bond was issued at 104 on October 1, 2011, how much interest will accrue on December 31 if interest payments are made annually?

A. $500

B. $104

C. $150

D. None

3. A warranty is an example of a/an _______ liability.

A. contingent

B. estimated

C. known

D. settled

4. Meranda Corporation purchases a machine for $125,000. It has an estimated salvage value of $10,000 and is expected to produce 50,000 units in its lifetime. During the first year of operation, it produced 14,500 units. To the nearest dollar, the depreciation for the first year under the units of production method will be

A. $35,500.

B. $33,350.

C. $36,250.

D. $31,250.

5. Casey Company's bank statement shows a bank balance of $43,267. The statement shows a bank service charge of $50. Casey's book balance shows outstanding checks of $5,288 and deposits in transit of $9,325. The bank-side reconciliation would show cash of

A. $39,230.

B. $43,217.

C. $47,304.

D. $43,267.
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