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natulia [17]
3 years ago
13

For a note receivable that was created on November 1, 2018 and is due for repayment on October 31, 2019, what is the time fracti

on needed to compute interest revenue for the year ended December 31, 2018? Multiple Choice a.2/12 b.2/10 c.12/12 d.22/12
Business
1 answer:
Alenkasestr [34]3 years ago
5 0

Answer:

Correct answer is A.

2/12

Explanation:

The total time period for which interest will be accrued and will be credited to the interest income account would be for the period November 1,2018 - December 31,2018 i.e 2 months.

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