elawnnalewis3568
elawnnalewis3568
22.03.2021 • 
Business

Thanks Rayan Ltd. accepts an 8-month, $10,000 note with interest at 10% on June 1. Rayan Ltd.’s year end is August 31. What is the amount that the Allowance for Doubtful Notes will be debited by if the note is dishonoured and collection is not expected?

$10,250

$10,667

$10,417

$10,000

none of the above

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