Answer:
Given that,
Value of promissory note = $11,700
Time period = 60 days
Interest rate = 14%
Interest revenue:
= Note value × Interest rate × Time period
= $11,700 × 0.14 × (60/360)
= $273
Therefore, the journal entry is as follows:
Accounts receivable A/c Dr. $11,973
To Interest revenue $273
To Notes receivable $11,700
(To record the dishonored note)
Answer:
448
Explanation:
Because you add them up divide by 2 and times by 4
Answer:
the capacity to provide future services or benefits.
Explanation:
