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On May 1, 2016, Benz's Sandwich Shop loaned $14,000 to Mark Henry for one year at 6 Required a. What is Benz's interest income for
On May 1, 2016, Benz's Sandwich Shop loaned $14,000 to Mark Henry for one year at 6 Required a. What is Benz's interest income for 2016? (Round your answer to the nearest dollar amount.) Interest income b. What is Be of receivables at December 31, 20162 (Round your answer to the nearest dollar amount.) Receivables c. How will the loan and interest be reported on Benz's 2016 statement of cash flows? d. What is Benz's interest income for 2017? (Round your answer to the nearest dollar amount.) Interest income e. What is the total amount of cash that Benz's will collect in 2017 from Mark Henry? (Round your answer to the nearest dollar amount.) Cash f. How will the loan and interest be reported on Benz's 2017 statement of cash flows? (Round your answer to the nearest dollar amount.)
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