Question
On April 1, 2021, a company loans one of its suppliers $52,000 and accepts a 30-month, 12% note receivable. Calculate the amount of interest revenue
On April 1, 2021, a company loans one of its suppliers $52,000 and accepts a 30-month, 12% note receivable.
Calculate the amount of interest revenue the company will recognize in 2021, 2022, and 2023. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)
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Information Systems Control And Audit
Authors: Et Al. Hyo-Jeong Kim, Michael Mannino, Compiled By Koros Press Editorial Board
1st Edition
1781639426, 978-1781639429
