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andrew11 [14]
1 year ago
11

on december 1, bright company receives a 6% interest-bearing note from galvalume company to settle a $20,000 account receivable.

the note is due in three months. at december 31, bright should record interest revenue of a.$100. b.$600. c.$0. d.$200.
Business
1 answer:
andreyandreev [35.5K]1 year ago
3 0

At December 31, bright should record interest revenue of $100. Money gained by lending money or money acquired from depositing or investing can both be referred to as interest revenue.

Is interest revenue a liability or an asset?

If a company anticipates receiving the interest payment within the year, it typically records the interest receivable as a current asset on its balance sheet. Companies that collect interest from loans view this revenue as a significant source of income that belongs at the top of the income statement. It is the price of taking out a loan from a bank, financial institution, bond buyer, or another lender. In order to assist a business finance its operations, such as the acquisition of rival businesses or machinery, plant, and property, interest expense is incurred.

To learn more about interest revenue, refer to:

brainly.com/question/27992328

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Answer:

$7,081.25

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<h3>What is a foreign direct investment (FDI)?</h3>

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The 3 types of FDI are;

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It is simply a business decision to get or buy a good amount of stake in a foreign business as in the case with Reneta.

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