Question
Cohen Company issued a 10% note receivable for $20,000 on August 1, 2010. The note has a maturity date of July 31, 2013. How much
Cohen Company issued a 10% note receivable for $20,000 on August 1, 2010. The note has a maturity date of July 31, 2013. How much interest revenue should be reported for the year 2010 for this note?
A) $833.33
B) $2,000
C) $6,000
D) $1,166.67
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Management Control Systems
Authors: Kenneth Merchant, Wim Van Der Stede
5th Edition
1292444134, 9781292444130
