Question
Bravo Corp. reported accrued investment interest receivable of $38,000 and $46,500 at January 1 and December 31, year 1, respectively. During year 1, cash collections
Bravo Corp. reported accrued investment interest receivable of $38,000 and $46,500 at January 1 and December 31, year 1, respectively. During year 1, cash collections from the investments included the following:
Capital gains distributions $145,000
Interest 125,000
What amount should Bravo report as interest revenue from investments for year 1?
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Fundamentals Of IT Audit For Operational Auditors
Authors: Timothy McWilliams
1st Edition
1634541332, 978-1634541336
