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QUESTION
A $10,000 note at 8 percent for 180 days, issued February 15. A $3,000 note at 12 percent for three months, issued October 3.
A $10,000 note at 8 percent for 180 days, issued February 15. A $3,000 note at 12 percent for three months, issued October 3. A $50,000 note at 9 percent for 120 days, issued October 18. Analyze: What is the balance in Notes Payable on December 31, 2010, assuming that all notes were paid when due?
