Zenephia Corp. accepted a nine-month note receivable from a customer on October 1, 2008. If Zenephia has

Question:

Zenephia Corp. accepted a nine-month note receivable from a customer on October 1, 2008. If Zenephia has an accounting period which ends on December 31, 2008, when would it most likely recognize interest revenue from the note?

a. on December 31, 2008 only

b. on July 1, 2009 only

c. on December 31, 2008 and June 30, 2009

d. on October 1, 2008

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Cornerstones Of Financial Accounting Current Trends Update

ISBN: 9781111527952

1st Edition

Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen

Question Posted: