Carrie Carney discounted a $14,000, 9%, 90-day note at Freemond Bank. She recorded the following entry: How
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Carrie Carney discounted a $14,000, 9%, 90-day note at Freemond Bank. She recorded the following entry:
How much interest did Carrie Carney lose by discounting the note?
Transcribed Image Text:
Cash Notes Receivable Interest Income 14,097 14,000 97
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College Accounting A Practical Approach Chapters 1-25
ISBN: 9780132772068
12th Edition
Authors: Jeffrey Slater
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