Question
On December 1, DEF Company agreed to accept a $10,000 45-day note from a customer which bears 6% interest. Assume that no interest has been
On December 1, DEF Company agreed to accept a $10,000 45-day note from a customer which bears 6% interest. Assume that no interest has been recorded during the year. If DEF uses the cash basis, how much interest revenue needs to be recorded on December 31? (calculate the portion of the year based on 360 days and round to the nearest dollar)
| $50 | ||
| $75 | ||
| $600 | ||
| $0 | ||
| $25 |
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The Marketing Audit Handbook Tools Techniques And Checklists To Exploit Your Marketing Techniques
Authors: Aubrey Wilson
1st Edition
0749437359, 978-0749437350
