Question
On 31 January 2022, Gorgon Ltd invested $80,000 in a 2-year fixed term deposit earning 4% p.a. Interest is paid quarterly and Gorgon Ltd received
On 31 January 2022, Gorgon Ltd invested $80,000 in a 2-year fixed term deposit earning 4% p.a. Interest is paid quarterly and Gorgon Ltd received the interest it was due on 30 April 2022.
Required
Calculate, to the nearest whole dollar, the amount of revenue Gorgon Ltd would recognise for the year ended 30 June 2022.
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Accounting For Managers Interpreting Accounting Information For Decision Making
Authors: Paul M. Collier
5th Edition
111900294X, 978-1119002949
