On December 1,2017,Going Places,Inc.sold machinery to a customer for $25,000.The customer could not pay at the time of sale but agreed to pay 9 months later and signed an 9-month note at 9% interest.What was the total amount of cash collected by Going Places on the maturity of the note? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )

Question

Quizplus · Accepted Answer

B)$25,000 + [(25,000 × 9%)× 9/12] = $26,688