Question: What will be the answer for (b) i.e, total interest revenue??? It will be interest revenue recognised from April 1,2020 to December 31, 2020 +

What will be the answer for (b) i.e, total interest revenue??? It will be interest revenue recognised from April 1,2020 to December 31, 2020 + Jan 1, 2021 to December 31, 2021 right???

what portion of interest is allocated to respective time period??

What will be the answer for (b) i.e, total interest revenue??? It

*DO NOT ROUND OFF ANY ANSWER UNTILL YOUR FINAL ANSWER. ROUND YOUR FINAL ANSWER TO THE NEAREST WHOLE DOLLAR* Present value of an ordinary annuity periods 35 910 4% 2.77 4.45 7.43 8.IT 8% 2.57 3.99 6.25 6.71 On april 1,2020, ABC COMpany rendered services to jones company in exchange for 3 year $400000.8% note. Payments of P&I (principal & interest) are due each april ist, with the first payment due immediately. December 31 st is the fiscal year end for ABC. Jones normal cost to borrow is 8%. a) Determine the dollar amount of the cash payment of P&I to be remitted each april Ist. b) Determine the total interest revenue that ABC will recognise on this note for the year end December 31, 2021. c) Prepare partial balance sheet as of December 31 2020. Current assets Interest receivable Notes receivablel current maturity) Long term investments Notes receivable. #HINT: PVAD = PVOA (1 + i)

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