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On November 1, 2021, Chargers Inc. lent money to Seahawks Inc., accepting Seahawks Inc.'s $360,000, 7 years, zero-interest-bearing note. The implicit interest rate is 6%
On November 1, 2021, Chargers Inc. lent money to Seahawks Inc., accepting Seahawks Inc.'s $360,000, 7 years, zero-interest-bearing note. The implicit interest rate is 6% which is the same as the market rate. How much interest income should Chargers Inc. recognize in 2022? Chargers Inc. follows IFRS. O a. $2,394 O b. $15,227 O c. $17,226 O d. $14,509 O e. $2,871
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett
6th Edition
0077211332, 9780077211332
