On October 1, 2024, Ogneva Corporation loans one of its employees $40,000 and accepts a 12-month, 9%

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On October 1, 2024, Ogneva Corporation loans one of its employees $40,000 and accepts a 12-month, 9% note receivable. Calculate the amount of interest revenue Ogneva will recognize in 2024 and 2025.

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Financial Accounting

ISBN: 9781260786521

6th Edition

Authors: David Spiceland

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Question Posted: Jun 28, 2022 01:30 AM

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On October 1, 2024, Ogneva Corporation loans one of its employees $40,000 and accepts a 12-month, 9%

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On 1st October 2024 Loan value 40000 Maturity da...View the full answer

Financial Accounting

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