What is the interest receivable and interest revenue, Financial Accounting

Assignment Help:

Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January.
Date Face Amount Term Interest Rate
5. Nov. 15 $54,000 60days 6%
6. Dec. 27 $40,500 30days 4%

Note Due Date Interest Due At Maturity
(5) Jan 14: $540
(6) Jan 26: $135


What is the Interest Receivable and Interest Revenue?


Related Discussions:- What is the interest receivable and interest revenue

Derive the optimal value of loss function, Derive the Optimal Value of Loss...

Derive the Optimal Value of Loss Function A speculative attack and the consequent currency crisis may not be due to excessive money-growth or other misaligned fundamentals, bu

Rules of intestacy-leaves several wives, Rules of intestacy:leaves several ...

Rules of intestacy:leaves several wives The intestate leaves several wives, married under any system of law which permits polygamy. His personal and household effects and the r

Stockholder''s equity, 1. Lett Corp declared and issued a 15% stock dividen...

1. Lett Corp declared and issued a 15% stock dividend when they had 100,000 shares of common stock issued and outstanding. The market price of the stock was $20 per share on the de

The american institute of cpas'' (aicpa), Describe:-1. Compare the American...

Describe:-1. Compare the American Institute of CPAs' (AICPA) Statements on Tax Standards (SSTS) and the Treasury Department Circular 230 rules to practice before the Internal Reven

Drawbacks of voluntary disclosures, Potential advantages to BNM Narrat...

Potential advantages to BNM Narrative reporting will enable BNM to provide information about social, economic and environmental policies. Many users are influenced by an entit

Dividends in arrears on cumulative preferred stock, Q. Dividends in arrears...

Q. Dividends in arrears on cumulative preferred stock a. are shown in stockholders' equity of the balance sheet. b. must be paid before common stockholders can receive a dividend.

Consequences of adjudication-adjudication of debtor, Consequences of adjudi...

Consequences of adjudication The consequences of the making of the adjudication order are: 1. The order must be advertised in the gazette and a local paper; 2. The ownershi

What is the worst case npv and best case npv, An investment under considera...

An investment under consideration has a payback of seven years and a cost of $724,000. If the required return is 12 percent, what is the worst-case NPV? The best-case NPV? Explain.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd