FDN Trading received the following promissory notes from various customers during 2020 in the course of...
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FDN Trading received the following promissory notes from various customers during 2020 in the course of selling its merchandise: Six-month 12% note for P56,000 90-day 10% note for P31,000 One-year 20% note for P113,000 All these notes were collected at their maturity dates during the year. How much is total interest income to be recorded by FDN Trading during 2020? FDN Trading received the following promissory notes from various customers during 2020 in the course of selling its merchandise: Six-month 12% note for P56,000 90-day 10% note for P31,000 One-year 20% note for P113,000 All these notes were collected at their maturity dates during the year. How much is total interest income to be recorded by FDN Trading during 2020? FDN Trading received the following promissory notes from various customers during 2020 in the course of selling its merchandise: Six-month 12% note for P56,000 90-day 10% note for P31,000 One-year 20% note for P113,000 All these notes were collected at their maturity dates during the year. How much is total interest income to be recorded by FDN Trading during 2020?
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Related Book For
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
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