Question
On 2/1/2021, Marco sells $500,000 of merchandise to Polo with a note.The note has an annual interest of 4%, which is due and received every
On 2/1/2021, Marco sells $500,000 of merchandise to Polo with a note.The note has an annual interest of 4%, which is due and received every six months. The entire note is due in 3 years. What amount of interest will be earned and recorded on 12/31/21, the financial statement date?
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$15,000
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$8,333
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$10,000
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$18,333
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Environmental Health And Safety Audits
Authors: Lawrence B. Cahill, Raymond W. Kane
9th Edition
1605907081, 9781605907086
