Question
On October 1, 2019, Westfield, Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed
On October 1, 2019, Westfield, Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed to pay 11 months later, and signed a 11month note at 11% interest. How much interest revenue was earned during 2019? Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.
A.$580
B.$550
C.$4,400
D.$2,017
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A Journey Into Auditing Culture
Authors: Grant Thornton United Kingdom, Susan Jex, Eddie J. Best
1st Edition
1634540565, 978-1634540568
