n January 1, 2013, ABC Inc. sold services to a customer in exchange for a...
90.2K
Verified Solution
Link Copied!
Question
Accounting
n January 1, 2013, ABC Inc. sold services to a customer in exchange for a $200,000, 10%, note receivable, with the principal due at the end of 5 years and interest paid quarterly. The customers normal borrowing rate is 8%. 5) Determine interest revenue reported on the income statement for this note for the period ended December 31, 2015. a. $39,684 b. $27,957 c. $16,750 d. $4,147
6) Determine the balance of the Premium account on March 31, 2015. a. $788 or $789 b. $9,787 or $9,786 c. $12,858 or $12,859 d. $26,281 or $26,282
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.