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Universal Travel, Inc. borrowed $500,000 on November 1, 2015, and signed a twelve-month note bearing interest at 6%. Principal and interest are payable in full at maturity on October 31, 2016. In connection
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Universal Travel, Inc. borrowed $500,000 on November 1, 2015, and signed a twelve-month note bearing interest at 6%. Principal and interest are payable in full at maturity on October 31, 2016. In connection with this note, Universal Travel, Inc. should record interest payable in 2016 in the amount of:

User Skrymsli
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Answer: 30000

Explanation: 6 % of 500,000 is 30000

User Isxaker
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