Question
Riley Company borrowed $36,000 on April 1, 2016 from the Titan Bank. The note 2) issued by Riley carried a one year term and a
Riley Company borrowed $36,000 on April 1, 2016 from the Titan Bank. The note 2) issued by Riley carried a one year term and a 7% annual interest rate. Riley earned cash revenue of $1,700 in 2016 and $1,400 in 2017. Assume no other transactions.
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Financial Accounting IFRS Principles
Authors: Ilse Lubbe, Goolam Modack, Alex Watson
4th Edition
0199049238, 9780199049233
