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On May 1, 2018, Benzs Sandwich Shop loaned $18,000 to Mark Henry for one year at 6 percent interest. Required What is Benzs interest income
On May 1, 2018, Benzs Sandwich Shop loaned $18,000 to Mark Henry for one year at 6 percent interest.
Required
- What is Benzs interest income for 2018? (Round your answer to the nearest dollar amount.)
- What is Benzs total amount of receivables at December 31, 2018? (Round your answer to the nearest dollar amount.)
- How will the loan and interest be reported on Benzs 2018 statement of cash flows?
- What is Benzs interest income for 2019? (Round your answers to the nearest dollar amount.)
- What is the total amount of cash that Benzs will collect in 2019 from Mark Henry? (Round your answer to the nearest dollar amount.)
- How will the loan and interest be reported on Benzs 2019 statement of cash flows? (Round your answer to the nearest dollar amount.)
- What is the total amount of interest that Benzs earned on the loan to Mark Henry? (Round your answer to the nearest dollar amount.)
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
