The London Interbank Bid Rate (LIBID) is the interest rate that London banks charge other large banks for borrowing Eurocurrency
Indicate whether the statement is true or false
FALSE
Business
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Under the perpetual inventory system, the journal entry to record cost of goods sold:
A) Cost of Goods Sold XX Sales XX B) Merchandise Inventory XX Sales XX C) Cost of Goods Sold XX Merchandise Inventory XX D) Sales XX Merchandise Inventory XX
Business
The interest charged on a $200,000 note payable, at the rate of 6% (assuming a 360 day year), on a 60-day note would be
A. $12,000 B. $6,000 C. $3,000 D. 2000
Business