nts) On April 1 each year, TAEL Co. receives interest on a $161,000, 6%, 6 year note receivable. On December 31, 2020, the company recorded interest revenue of $7,245 on this note. Assuming TAEL Co. doesn't make reversing entries, how much interest revenue will they record on April 1, 2021? (AC 9 & 11) O $7,245 O $9,660 O $1,610 O $2,415
nts) On April 1 each year, TAEL Co. receives interest on a $161,000, 6%, 6 year note receivable. On December 31, 2020, the company recorded interest revenue of $7,245 on this note. Assuming TAEL Co. doesn't make reversing entries, how much interest revenue will they record on April 1, 2021? (AC 9 & 11) O $7,245 O $9,660 O $1,610 O $2,415
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter14: Long-term Liabilities: Bonds And Notes
Section: Chapter Questions
Problem 11E
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nts) On April 1 each year, TAEL Co. receives interest on a $161,000, 6%, 6 year note receivable. On
December 31, 2020, the company recorded interest revenue of $7,245 on this note. Assuming TAEL Co.
doesn't make reversing entries, how much interest revenue will they record on April 1, 2021? (AC 9 & 11)
O $7,245
O $9,660
O $1,610
O $2,415
K](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd04645ef-6cf6-4d1b-a92f-7bdee3700327%2F73fe14a7-8b9f-4d9e-b1fc-241672554498%2Ffl18mkr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3
nts) On April 1 each year, TAEL Co. receives interest on a $161,000, 6%, 6 year note receivable. On
December 31, 2020, the company recorded interest revenue of $7,245 on this note. Assuming TAEL Co.
doesn't make reversing entries, how much interest revenue will they record on April 1, 2021? (AC 9 & 11)
O $7,245
O $9,660
O $1,610
O $2,415
K
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