On September 1, 2023, Bright wave Inc. accepted a 6-month, 7.5% note for $45,000 from a customer with an overdue account balance. What is the accrued interest recorded for this note on December 31, 2023?

On September 1, 2023, Bright wave Inc. accepted a 6-month, 7.5% note for $45,000 from a customer with an overdue account balance. What is the accrued interest recorded for this note on December 31, 2023?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 24Q: Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms...

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Question

What is the accrued interest recorded for this note on December 31 2023 for this financial accounting question?

On September 1, 2023, Bright wave Inc. accepted a 6-month, 7.5%
note for $45,000 from a customer with an overdue account balance.
What is the accrued interest recorded for this note on December 31,
2023?

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