Data on three promissory notes receivable due to Aptara Inc. at December 31, 2014, follow: Aptara's year

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Data on three promissory notes receivable due to Aptara Inc. at December 31, 2014, follow:

Data on three promissory notes receivable due to Aptara Inc.

Aptara's year end is December 31 and it adjusts its books annually. For each of the above notes, calculate the amount of
(a) Interest revenue to be recorded in 2014,
(b) Interest revenue to be recorded in 2015, if any,
(c) Total interest revenue. Round calculations to the nearest dollar.

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Related Book For  book-img-for-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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