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Marigold Construction Co. receives a note receivable from Blossom Plastics Inc. as settlement of an overdue account receivable. The note is for three months and
Marigold Construction Co. receives a note receivable from Blossom Plastics Inc. as settlement of an overdue account receivable. The note is for three months and bears an annual interest rate of 8%. The original accounts receivable balance was $700. When the note is collected, Marigold Construction Co. will recognize interest revenue of $756. $56. O $14. O $714
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
9th Edition
111970958X, 9781119709589
