Consider the following independent scenarios. 1. On 9/1, a company accepts a $10,000, 5%, 8-month note receivable.
Question:
1. On 9/1, a company accepts a $10,000, 5%, 8-month note receivable.
2. On 3/1, a company accepts a $20,000, 8%, 6-month note receivable.
3. On 6/15, a company accepts a $15,000, 10%, 4-month note receivable.
Required
Assuming a December 31 year end, calculate current-year interest revenue for each scenario.
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Sept 1 note 10000 5 412 16667 interest revenue ...View the full answer
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