Question
A Corporation gave a $850,000 loan to A Inc. on March 1, 2019. The interest rate on the loan is 8%. A agreed to make
A Corporation gave a $850,000 loan to A Inc. on March 1, 2019. The interest rate on the loan is 8%. A agreed to make twelve equal semi-annual payments for six years beginning September 1, 2019.
A. What is the size (amount) of each payment made by MTL Inc.?
B. What is the interest revenue recorded by A for the year ended December 31, 2019?
C. What is the balance in interest receivable on A's books on December 31, 2019?
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Authors: Tom Litton, Poppy Behrens, Erica Shatzer, George Bernal
1st Edition
0977157814, 978-0977157815
