Provide correct answer general accounting Riverway Technologies issued a$7,500, 8%, 90-day note receivable.What is the interest earned on thisnote?A) $150B) $200C) $180D) $120

Step 1: Define Simple InterestSimple Interest is the amount earned or paid on a principal sum at a…

Answered: Riverway Technologies issued a $7,500,…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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Riverway Technologies issued a $7,500, 8%, 90-day note receivable. What is the interest earned on this note? A) $150 B) $200 C) $180 D) $120