What is the interest income and carrying amount of the loans receivable on March 31, 2010?
What is the interest income and carrying amount of the loans receivable on March 31, 2010?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On April 2009, Entity A granted Entity Z a 4 year loan amounting to 5,000,000 of direct loan origination cost and receives nonrefundable origination fees amounting to 500,000. the stated interest is 10% payable annually every december 31.
What is the interest income and carrying amount of the loans receivable on March 31, 2010?
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