Question: Exercise 5-12 Notes receivable-accrued interest LO 5-4 On March 1, 2014, Peppers Deli loaned $16,000 to Simms Supply for one year at 8 percent interest.

Exercise 5-12 Notes receivable-accrued interest LO 5-4

On March 1, 2014, Peppers Deli loaned $16,000 to Simms Supply for one year at 8 percent interest.

Required
Answer the following questions.
a.

What is Peppers interest income for 2014? (Do not round intermediate calculations and round your final answer to nearest whole dollar amount.)

b.

What is Peppers total amount of receivables at December 31, 2014? (Do not round intermediate calculations and round your final answer to nearest whole dollar amount.)

c.

What amounts will be reported on Peppers 2014 statement of cash flows? (Enter cash outflows as negative amounts.)

d.

What is Peppers interest income for 2015? (Do not round intermediate calculations and round your final answer to nearest whole dollar amount.)

e.

What is the total amount of cash that Peppers will collect in 2015 from Simms Supply?

f.

What amounts will be reported on Peppers's 2015 statement of cash flows? (Enter cash outflows as negative amounts.)

g.

What is the total amount of interest Peppers Deli earned from the loan to Simms Supply?

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