On December 31, 2017, Roker, Inc. reported notes receivable of $63,930,000. This amount represents the present value
Question:
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Assume that the interest due is paid along with the face value of the receivables at the end of each year.
Required:
Provide journal entries to record the interest received and the notes receivable collected in each year.
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...
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Effective interest table in 000s a b c d Date Interest income prior d x 1112 N...View the full answer
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Related Book For 
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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