Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, a company lends a corporate customer

On January 1, a company lends a corporate customer $192,000 at 4% interest. The amount...

70.2K

Verified Solution

Question

Accounting

On January 1, a company lends a corporate customer $192,000 at 4% interest. The amount of interest revenue that should be recorded for the quarter ending March 31 equals:

$7,680.

$2,560.

$640.

$1,920.

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students

Statistics
1.2K views

Suppose a company has fixed costs of 2100 and

Finance
1.2K views

i dividually students will develop a formal response to the problem(s) posed in the case, addressing the...

Medical Sciences
1.2K views

14). It is important for the epidermis to be effective at screening UV radiation, but not...

General Management
1.2K views

Industrial Management How would you distinguish between engineering management and management in general?

Accounting
1.2K views

The comparative balance sheet for company “Delta” in € for years 2017 and 2018 is given below: Comparative...

Biology
1.2K views

any blood pressure medications block the reabsorption of water in the collecting ducts How would...

Accounting
1.2K views

Company ABC purchases inventory on account during the period, costing $85,000....

Accounting
1.2K views

The estimated litigation expense of 1,250,000 will be deductible in a tax report in 2023...

Accounting
1.2K views

Indicate whether each of the following items is considered

Accounting
1.2K views

Traditional accounting has several limitations which have led to the rise of social accounting. Describe...

Accounting
1.2K views

Married filing jointly. Their total adjusted gross income was $90,000 and they qualified for the...

Accounting
1.2K views

Diversify her investments by including equities. Establish an emergency fund. Eliminate her credit card debt....