On October 1, Black Company receives a 10% interest bearing note from Reese Company to settle an $21,800 account receivable. The note is due in six months. At December 31, Black should record interest revenue of:
a. $0
b. $450
c. $900
d. $1,800
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On October 1, Black Company receives a 10% interest bearing note from Reese Company to settle an $21,800 account receivable. The note is ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Prepare the current assets section of the balance sheet for Buffalo Industries, assuming that in addition to the receivables it has cash of $97,340, merchandise inventory of $167,950, and supplies of $12,560.
Answers (1)
Memorial Stadium has traditionally relied exclusively upon 80 baseball games to generate revenue. However, the local baseball team has decided to move to a larger city.
Answers (1)
Pumpkin Inc. sold $500 in pumpkins to a customer on account on January 1. On January 11, Pumpkin collected the cash from that customer. What is the impact on Pumpkin's accounting equation from the collection of cash?
Answers (1)
You are hopelessly in debt, and you have no chance of paying your bills. You have talked with a good debt counseling service, and the service says you should file for the type of bankruptcy that will allow you to "discharge" your debts.
Answers (1)
Use the accounting equation to solve for equity. 2. If next year assets increased by $ 3 comma 700 and equity decreased by $ 2 comma 320 , what would be the amount of total liabilities for Seal Away Handyman Services?
Answers (1)
New Questions in Business
Laurie Corp., a major watch manufacturer, purchases Smith Inc., a smaller company that makes watch bands. Following this purchase, the watch band operations are performed by the Smith Division of Laurie Corp.
Answers (1)
Which of the following options is NOT a unique feature of e-commerce technology? A. The consumer is a participant in the process of delivering products or services. B. There is one set of technical standards across the globe. C.
Answers (1)
Suppose Juan has three job offers. He can earn $50,000 in Atlanta, GA; $70,000 in Boston, MA; or $100,000 in San Francisco, CA. If Juan wants to maximize the purchasing power of his income, which offer should he accept?
Answers (1)
The Federal Reserve Bank of the United States is also known as the A. people's bank. B. central bank. C. world bank. D. retail bank.
Answers (1)
A client has recently immigrated without his family. The client reports that he cannot find a job and has no friends here. The client reports that without his family he doesn't know who he really is and everything around him is different.
Answers (1)