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On June 1, Davis Inc. issued an 184,000, 5%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June
On June 1, Davis Inc. issued an 184,000, 5%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using the 360-day year, what is the amount of interest revenue recognized by Garcia in the following year? Round your answer to the nearest whole dollar. A. SLAC Ob. $1,800 Cc 54200 d. 1700 v
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Advanced Accounting
Authors: Debra C. Jeter, Paul Chaney
5th Edition
1118022297, 9781118214169, 9781118022290, 1118214161, 978-1118098615
