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Please answer and explain. Thank you! Please remember to include the interest calculations used, especially for the last journal account. SupplyCo. had these transactions related
Please answer and explain. Thank you!
Please remember to include the interest calculations used, especially for the last journal account.
SupplyCo. had these transactions related to notes receivable during the last 2 months of the ye The company only makes entries to accrue interest at Dec 31. Nov01 ... Loaned $60,000 cash to C. Bohr on a 12-month, 7% note. Dec11 .. Sold goods to Pine, Inc., receiving a $3,600, 90-day, 8% note. Dec16 ... Rec' a \$12,000, 180-day, 9\% note to settle an open acct recbl from A. Murdock. Dec31 ... Accrued interest revenue on all notes receivable. Show your calculations for each of the three customers to get the total amount of the interest revenueStep by Step Solution
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