Question
JKJ Limited purchases a $20,000, 180-day treasury bill for $19,608 on September 1. The treasury bills are trading at a market interest rate of 4%
JKJ Limited purchases a $20,000, 180-day treasury bill for $19,608 on September 1. The treasury bills are trading at a market interest rate of 4% annually. What will the effect on interest revenue be with entry on December 31 (year end)?
1) 131
2) 800
3) 261
4) 533
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Accounting Information System
Authors: James A. Hall
7th Edition
978-1439078570, 1439078572
