Question
On September 1, Bates Supplies borrows $30,000 from Vines Incorporated by signing an 8% note due in 12 months. Calculate the amount of interest revenue
On September 1, Bates Supplies borrows $30,000 from Vines Incorporated by signing an 8% note due in 12 months. Calculate the amount of interest revenue Vines will record on December 31, four months after the note is issued.
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Financial Accounting
Authors: Joe Ben Hoyle, C.J. Skender, Joe Hoyle
1st Edition
0982361831, 978-0982361832
