October 8, 2015

Homework Help: Accounting

Posted by rockie on Tuesday, February 17, 2009 at 11:53pm.

The Suns bought a reconditioned DC 3. They paid 1 million in cash and signed a promissory note with no stated interest rate for 3.96 million due and payable after 12 months, but renegotiable on June 30, 2009. Under similar circumstances a bank would charge a company with the same risk profile as the Suns 10% p.a.on such a note.

Please help have no clue.

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