On October 1st 2023 a company lends $60,000 to a supplier on a 5% notes due in 12 months. The company has a December 31 year end. Calculate the amount of interest revenue the company will report in its 2023 income statement

On October 1st 2023 a company lends $60,000 to a supplier on a 5% notes due in 12 months. The company has a December 31 year end. Calculate the amount of interest revenue the company will report in its 2023 income statement

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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