On December 31, 2017, the lender on a $ 5,700, 120-day,10% note dated November 5, 2017, will
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Question:
On December 31, 2017, the lender on a $ 5,700, 120-day,10% note dated November 5, 2017, will recognize: (Use a 365 day year and round your final answer to the nearest dollar.)
A. Interest payable, $91.
B. Interest receivable, $91.
C. Interest receivable. $194.
D. Interest payable, $194.
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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