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Anton [14]
3 years ago
13

On October 1, Black Company receives a 10% interest-bearing note from Reese Company to settle a $22,200 account receivable. The

note is due in six months. At December 31, Black should record interest revenue of
Business
1 answer:
lorasvet [3.4K]3 years ago
4 0

Answer:

$555

Explanation:

The computation of the interest revenue is shown below:

= Account receivable  × rate of interest × number of months ÷ (total number of months in a year)

= $22,200 × 10% × (3 months ÷ 12 months)

= $2,220 × (3 months ÷ 12 months)

= $555

The three month is calculated from October 1 to December 31. The six month period of note is ignored

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2 years ago
The cost C and the revenue R for a brokerage firm depend on the number T of transactions executed. (Both C and R are measured in
marusya05 [52]

Answer:

C(T) = $730 + $25T

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Explanation:

Given that:

C = cost ; R = revenue ; T = number of transactions

Amount paid per transaction = $25

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