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Copper Industries has the following transactions related to notes receivables in November 2020 01- Borrowed Arthur James $60,000 cash on a 1-year, 5% note. Interest
Copper Industries has the following transactions related to notes receivables in November 2020 01- Borrowed Arthur James $60,000 cash on a 1-year, 5% note. Interest is due the first of Nov each month commencing December 1. Sold goods to J. Mardock, receiving a $9,000,4-month, 4% note. Interest is due the 15 15- of each month, commencing December 15. The merchandise cost $6,000 and the Nov company uses perpetual inventory system. 30- Accrued interest income on the notes receivable (Nov 1 and Nov 15). Show your Nov calculations
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