Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on may 1st, 2022, build-a-bridge (bab) inc. lends

On May 1st, 2022, Build-a-Bridge (BAB) Inc. lends $100,000 to another party and accepts a...

80.2K

Verified Solution

Question

Accounting

On May 1st, 2022, Build-a-Bridge (BAB) Inc. lends $100,000 to another party and accepts a ten month note receivable with an annual interest rate of 6% in exchange. The principle and interest were due February 28, 2023. What is the interest revenue that will be reported on BAB Inc.'s Income Statement For the Year Ending December 31, 2022?

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

Accounting
1.2K views

Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services,...

Basic Math
1.2K views

t 1 a b 1 d 171 2 ise 2 f 1 1 sinyali a...

Basic Math
1.2K views

Order Sandostatin octreotide acetate 40 mcg subcut Q 6h Read the label in the figure...

Calculus
1.2K views

x t Find a plane containing the line y t 8x 7y 8z 2 1...

Calculus
1.2K views

Split the angle Of find the fos Set up the sum and difference by using...

Algebra
1.2K views

Determine which graph represents the inequality given Press the hotspot to select the graph of...

Algebra
1.2K views

Problem 6 10 points Let G 0 Find the minimal possible value of Ax b...

Accounting
1.2K views

On January 1, 2021, Delta Air Lines, Inc. (NYSE: DAL) leases a Boeing 787 aircraft...

Accounting
1.2K views

Sandhill Corporation owns machinery that cost $30,000 when purchased on July 1, 2017. Depreciation has...

Accounting
1.2K views

Lenning Corporation uses the FIFO method in its process costing. The following data pertain to...

Accounting
1.2K views

Earth's Treasures Mining Co. adquiri derechos mineros por $105,000,000. El depsito de mineral se estima...

Accounting
1.2K views

Morgan Freeman is investing $9,757 at the end of each year in a fund that...