Mathematics
kayla2018
2020-04-20 17:19:30
Universal Travel Inc. borrowed $500,000 on November 1, 2013, and signed a 12-month note bearing interest at 6%. Interest is payable in full at maturity on October 31, 2014. In connection with this note, Universal Travel Inc. should report interest payable at December 31, 2013, in the amount o
ANSWERS
abbeybrooker123
2020-04-20 21:51:54

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions. In connection with this note, Universal Travel Inc. should report interest payable at December 31, 2013, in the amount of $5,000. Below is the solution: $500,000 x 6% x 2/12 = $5,000

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