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elena-s [515]
2 years ago
10

on april 1, 2021, a company loans one of its suppliers $58,000 and accepts a 29-month, 14% note receivable. calculate the amount

of interest revenue the company will recognize in 2021, 2022, and 2023. (do not round intermediate calculations. round your final answers to the nearest whole dollar.)
Business
1 answer:
castortr0y [4]2 years ago
6 0

The amount of interest revenue the company will recognizes: For 2021 it will be $4680, for 2022 it will be $6240, and for the 2023 it will be $4680.

What is interest revenue?
The income that an organisation receives from every investments it makes or on debt it owns is known as interest revenue. A business must record interest revenue underneath the accrual basis of accounting even if it has not yet received payment in cash for the interest as long as it has earned this same interest; this is done through an accrual journal entry. Interest revenue is only recorded under the cash basis of accounting when the entity receives a cash payment for interest.

For instance, if a business uses the accrual method of accounting, it might spend $10,000 on a certificate of deposit that yields 6% interest and generates $600 in interest income after a year.

The amount of interest revenue the company will recognizes :
2021 => $52000 × 12% × 9/12 = $4680
2022 => $52000 × 12% × 12 = $6240
2023 => $52000 × 12% × 9 /12 = $4680

To learn more about interest revenue
brainly.com/question/19341720
#SPJ4

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swat32
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2 years ago
Charlie Chairs Inc., manufactures plastic moldings for car seats. Its costing system utilizes two cost categories, direct materi
UNO [17]

Answer:

Units transferred out = 760

Explanation:

If we assume that all units are completed in the order of arrival i.e (FIFO), then the units transferred out is the sum of the opening inventory and the units started and completed in the period. The units started and completed in the period is referred to fully-worked.

Fully worked is computed as the units started in the period less the closing inventory .

Fully- worked = 800 - 240 = 560

The units transferred out = opening inventory + Fully-worked

                                          = 200 + 560 = 760

Units transferred out = 760

Note we assumed that the units of the inventory( started last period i.e January) would be worked on first in the month of February  before any other units. So, it is assumed completed by the end of February

6 0
3 years ago
When a company does not have any convertible securities or options or warrants outstanding, the company has:
WITCHER [35]

Answer: Simple capital structure

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Hence , from the above we can conclude the right option is C.

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3 years ago
Mention and explain documents for buying and selling​
Jlenok [28]

Answer:

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This is a document used by a department in a company to request that those in charge of procurement acquire some goods for them.

Quotation

This is a document sent by a supplier to the prospective buyer informing them of the goods they have and their selling price.

Purchase Order

This is the document that shows a formal request for goods from a supplier.

Delivery Note

This is used to confirm that the buyer has received the goods they ordered. The buyer will typically sign this document to confirm receipt.

Invoice

A supplier prepares and sends this to the buyer to show them the goods they ordered and the prices so that the buyer knows how much they owe.

4 0
3 years ago
Which of the following are good choices for your appearance in an interview?
nexus9112 [7]

-dress nicely

-be prepared

-empathize

Where are your options? Anyway, I hope this helps!!! :)

4 0
4 years ago
Read 2 more answers
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