If the discount for two year note is $700 and the cash received for interest is $900,

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If the discount for two year note is $700 and the cash received for interest is $900, how much is recorded as interest revenue if the straight method is used?

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Intermediate Accounting

ISBN: 978-0071339476

Volume 1, 6th Edition

Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I

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Question Posted: Aug 20, 2015 02:38 AM

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If the discount for two year note is $700 and the cash received for interest is $900,

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Straight line depreciation is the payment method used to ...View the full answer

Intermediate Accounting

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