Question
When issuing zero bearing interest note, there is no market rate. The prevailing rate for February 1 2016 is 7%, December 31st 2016 is 7.9%
When issuing zero bearing interest note, there is no market rate. The prevailing rate for February 1 2016 is 7%, December 31st 2016 is 7.9% And February 1st 2017 is 8% and December 31st 2017 is 7.4%/ What interest rate should we use when recording interest revenue on December 31st 2016 and December 31st 2017 respectively?
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Contemporary Auditing Real Issues And Cases
Authors: Michael C. Knapp, Loreen Knapp
5th Edition
032418834X, 978-0324188349
