Question 13 (1 point) What is the effective interest rate (rounded) on a 3-month noninterest-bearing note with a stated rate of 12% and a maturity value of $200,000? 12.4% 13.6% 11.5% 3.1% Question 14 (1 point) Lake Co. receives nonrefundable advance payments with special orders for containers constructed to customer specifications. Related information for 2018 is as follows ($ in millions): Advances received with 2018 Orders Advances applicable to orders shipped in 2018 Advances from orders canceled in 2018 $110 195 180 What amount should Lake report as a current liability for advances from customers in its Dec. 31. 2018, balance sheet? $0. $80 million $125 million. $170 million. Question 15 (1 point) Which of the following is not a current liability? Accounts payable. A note payable due in two years. Accrued interest payable. Sales tax payable