Question
Your company holds a 90-day note receivable of $10,000 from a customer. The note is dated October 31 and has a 12% interest rate. Your
Your company holds a 90-day note receivable of $10,000 from a customer. The note is dated October 31 and has a 12% interest rate. Your company's year ends on December 31. How much interest revenue do you accrue on December 31?
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Accounting Information Systems
Authors: Steven M. Bragg
2nd Edition
164221079X, 9781642210798
