Received two notes from customers for sales

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Reference no: EM131211362

Frankenstein Enterprises received two notes from customers for sales that Frankenstein made in 2016. The notes included: Note A: Dated 5/31/2016, principal of $120,000 and interest due 3/31/2017. Note B: Dated 7/1/2016, principal of $200,000 and interest at 8% annually, due on 4/1/2017. Frankenstein had accrued a total of $14,400 interest receivable from these notes in its 12/31/2016 balance sheet. The annual interest rate on Note A is closest to: 9.14%. 8%. 9.74%. 9.44%.

Reference no: EM131211362

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Received two notes from customers for sales : Frankenstein Enterprises received two notes from customers for sales that Frankenstein made in 2016. The notes included: Note A: Dated 5/31/2016, principal of $120,000 and interest due 3/31/2017. Note B: Dated 7/1/2016, principal of $200,000 and inte..

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