Nittany Lion Company sells Product D to Customer Company on January 1, 2019. Customer Company...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Nittany Lion Company sells Product D to Customer Company on January 1, 2019. Customer Company agrees to pay Nittany Lion Company $20,000 on December 31, 2020 (i.e., in two years). The annual interest rate on loans is 8%. How much does Nittany Lion Company recognize as interest revenue in 2019? Round your answer to the nearest dollar (e.g.,1,000).
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.