A table of notes receivable for 2016 follows: For each of the notes receivable, compute the amount
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For each of the notes receivable, compute the amount of interest revenue earned during 2016. Round to the nearest dollar.
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Interest Period During 2016 Principal 30,000 8,000 28,000 110,000 Interest Rate 4% 5% 12% 10% 3 months Note 1 Note 2 Note 3 Note 4 180 days 90 days 6 months
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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