2. Financial Accounting: On January 1, a company lends a corporate customer $178,000 at 7.25% interest. What is the amount of interest revenue that should be recorded for the quarter ending March 31?
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383A companys sales for January are $250,000. If the company projects warranty obligations to be 5% of sales, what is the warranty liability amount for January?Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?
- Can you please solve this general accounting question?On October 1, Black Company receives a 6% interest-bearing note from Reese Company to settle a $17,000 account receivable. The note is due in six months. At December 31, Black should record interest revenue of Oa. $252 Оь. 5255 Oc. $262 Od. $2652. Financial Accounting: On January 1, a company lends a corporate customer $178,000 at 7.25% interest. What is the amount of interest revenue that should be recorded for the quarter ending March 31?
- On October 1, Black Company receives a 8% interest-bearing note from Reese Company to settle a $18,600 account receivable. The note is due in six months. At December 31, Black should record interest revenue of Oa. $369 Оb. $372 Ос. $382 Od. $379On October 1, Black Company receives a 10% interest-bearing note from Reese Company to settle a $17,800 account receivable. The note is due in six months. At December 31, Black should record interest revenue of a.$455 b.$442 c.$445 d.$452General Accounting
- On June 1, Davis Inc. issued an $89,300, 8%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using a 360-day year, what is the amount of interest revenue recognized by Garcia in the following year? When required, round your answer to the nearest dollar. a. $1,806 Ob. $7,144 O c. $595 Od. $1,191 BWhat is the amount of interest revenue that must be accrued on December 31st for a nine-month, 6%, $2,000 note receivable that was accepted on November 1st? what is the interest accrued?Need help with this accounting questions
