Answer:
4.5 is the answer 9/2=4.5
Step-by-step explanation:
Answer:
Since on July 9, Mifflin Company receives a $ 10,200, 90-day, 6% note from customer Payton Summers as payment on account, to determine what entry should be made on July 9 to record receipt of the note the following calculation must be performed :
90 days = 3 months
6/12 x 3 = 1.5%
10,200 x 1,015 = 10,353
Therefore, a debt cancellation for $ 10,200 must be made in the company's accounting records, plus an interest generation for $ 153, which will be justified by the cash income of $ 10,353.
Answer:
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Step-by-step explanation:
