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gulaghasi [49]
3 years ago
8

On June 1, $40,000 of treasury bonds were purchased between interest dates. The broker commission was $600. The bonds pay intere

st at 12%, which is paid semiannually on January 1 and July 1. How much interest revenue will be recorded on July 1?
a. $400.
b. $2,000.
c. $2,400.
d. $406.
Business
1 answer:
lyudmila [28]3 years ago
6 0

Answer: $400

Explanation:

The amount of interest revenue that will be recorded on July 1 will be calculated thus:

Interest revenue = Face value × Interest percentage × 1/12

= $40,000 × 12% × 1/12

= $40000 × 0.12 × 0.08333

= $400

Therefore, the interest revenue that will be recorded on July 1 is $400.

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Answer:

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4 years ago
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<h3>How is income distributed?</h3>

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This was confirmed in 2016 by Oxfam, and the scary part is that this trend is set to continue.

Find out more on income distribution at brainly.com/question/4993794

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5 0
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Answer:

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When the product is sold, a product guarantee liability and warranty cost should be reported if it is possible that consumers may make claims under the warranty and the amount can be calculated.

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