Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 07 Aug 2017 My Price 4.00

interest revenue

Computing interest amounts on notes receivable

A table of notes receivable for 2012 follows:

 

Principal

Interest Rate

Interest Period During 2012

Note 1

$ 30,000

8%

4 months

Note 2

10,000

11%

45 days

Note 3

19,000

10%

75 days

Note 4

100,000

7%

10 months

Requirement

1. For each of the notes receivable, compute the amount of interest revenue earned during 2012. Use a 360-day year, and round to the nearest dollar.

Answers

(5)
Status NEW Posted 07 Aug 2017 12:08 AM My Price 4.00

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