Business, 28.06.2020 05:01 smkw04p3ao0n

Craig borrowed $700,000 on October 1, 2020 and is required to pay $720,000 on March 1, 2021. What amount is the note payable recorded at on October 1, 2020 and how much interest is recognized from October 1 to December 31, 2020? a. $700,000 and $0.

b. $700,000 and $12,000.

c. $720,000 and $0.

d. $700,000 and $20,000.

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Craig borrowed $700,000 on October 1, 2020 and is required to pay $720,000 on March 1, 2021. What am...

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