Question
For each of the following notes receivable held by Christensen Company determine the interest revenue to be reported on the income statements for the year
For each of the following notes receivable held by Christensen Company determine the interest revenue to be reported on the income statements for the year ended December 31. Use 360 days in your computations. Round answers to nearest whole dollar.
| Date | Face | Rate | Time |
| Aug. 8 | $45,000 | 7% | 45 days |
| Oct. 7 | $62,000 | 5% | 60 days |
| Jan. 6 | $28,000 | 4% | 120 days |
| Nov. 12 | $43,000 | 6% | 60 days |
| Date | Interest Revenue |
| Aug. 8 | $fill in the blank 1 |
| Oct. 7 | $fill in the blank 2 |
| Jan. 6 | $fill in the blank 3 |
| Nov. 12 | $fill in the blank 4 |
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Bank Performance, Risk And Firm Financing
Authors: P. Molyneux
1st Edition
0230313353, 9780230313354
