A table of notes receivable for 2012 follows: Requirement 1. For each of the notes receivable, compute

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A table of notes receivable for 2012 follows:

Principal Interest Rate Interest Period During 2012 Note 1 Note 2 $ 30,000 10,000 19,000 100,000 4 months 45 days 75 day

Requirement
1. For each of the notes receivable, compute the amount of interest revenue earned during 2012. Use a 360-day year, and round to the nearestdollar.

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Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

Question Posted: Dec 16, 2011 08:48 AM

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A table of notes receivable for 2012 follows: Requirement 1. For each of the notes receivable, compute

Question:

Principal Interest Rate Interest Period During 2012 Note 1 Note 2 $ 30,000 10,000 19,000 100,000 4 months 45 days 75 days 8% 11% 10% Note 3 Note 4 10 months 7%

Step by Step Answer:

Req 1 Note 1 800 30000 0...View the full answer

Financial and Managerial Accounting

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