Question
Affinity Services Group received a 12%, 6-month promissory note with a principal amount of $10,000 from a customer for the sale of merchandise on December
Affinity Services Group received a 12%, 6-month promissory note with a principal amount of $10,000 from a customer for the sale of merchandise on December 1, 2012. A) How much interest revenue will the company recognize as of December 31, 2012? B) How much interest revenue will the company recognize in 2013?
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FINANCIAL ACCOUNTING AND COSTING
Authors: Meera Gopi Krishna
1st Edition
979-8604687369
