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On May 1 , Year 1 , Benz s Sandwich Shop loaned $ 1 6 , 0 0 0 to Mark Henry for one year
On May Year Benzs Sandwich Shop loaned $ to Mark Henry for one year at percent interest.
Required:
What is Benzs interest income for Year
What is Benzs total amount of receivables at December Year
How will the loan and interest be reported on Benzs Year statement of cash flows?
What is Benzs interest income for Year
What is the total amount of cash that Benzs will collect in Year from Mark Henry?
How will the loan and interest be reported on Benzs Year statement of cash flows?
What is the total amount of interest that Benzs earned on the loan to Mark Henry?
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