The amount of interest revenue that should be recorded for the year ended December 31, 2020 is $20 .
<h3>Interest revenue </h3>
Interest revenue represents how much interest a company earned during a specific time period. This is interest earnings on any investments the business has or debts it has provided to an individual or other entity.
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Suppose the sales increased by 50% in year 2 then it would be normal if the account receivable increased by 35%. However, I need to see the company accounts to understand what is going on. If the turnover is still the same then we can say that clients are paying slower.
Answer:
Antonio and Replacement of Golf Clubs
a. He should cash the CD and use the proceeds to finance part of the golf clubs.
b. The reason is that he would pay more in in-store financing totaling $37.06 per annum than the net interest he would generate from the CD totaling $23.18 per annum. And Antonio would incur a net loss of $13.88 if the CD was renewed unlike the $5.74 if the CD were not renewed.
Explanation:
Option 1: Renew Certificate of Deposit (CD):
Interest earned = $33.48 ($600 * 5.58%)
Taxes = 10.30 ($33.48 * 30.75%)
Net Income = $23.18
Cost of in-store financing = $37.06 ($710 * 5.22%)
Net Loss(overall) = $13.88 ($37.06 - $23.18)
Option 2:
Sale-off of CD = $600
Net financing required = $110 ($710 - $600)
Cost of financing = $5.74 ($110 * 5.22%)
i would its because to profit motive i think.
Hello There! The Answer to this problem is: B, C, E, G
Explanation:
