Question
On December 1, 2017, willie wonka's Chocolate Factory, Incorporated. Agrees to convert Nestle's LTD $50,000 accounts receivable to a one-year note receivable with an interest
On December 1, 2017, willie wonka's Chocolate Factory, Incorporated. Agrees to convert Nestle's LTD $50,000 accounts receivable to a one-year note receivable with an interest rate of 7%. Please calculate the amount of interest earned by willie wonka for the year ending december 31, 2017?
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International Accounting
Authors: Frederick D. Choi, Gary K. Meek
7th Edition
978-0136111474, 0136111475
