Question
On August 1, 2016, Acre, Inc., sold equipment and accepted a six-month, 9%, $40,000 note receivable. Acre's year-end is December 31. How much interest revenue
On August 1, 2016, Acre, Inc., sold equipment and accepted a six-month, 9%, $40,000 note receivable. Acre's year-end is December 31.
How much interest revenue should Acreaccrue on December 31, 2016?
a). $1,650
b). $1,500
c). $3,300
d). $1,600
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
14th edition
978-1259284861, 1259284867, 77862392, 978-0077862398
