____________________ are receivables that generally specify an interest rate and a maturity date at which any interest and principal must be repaid
Fill in the blank(s) with correct word
Notes receivable
You might also like to view...
Interest-rate parity is best described by the equation
A.
.
B.
.
C.
%?X = %?x + ?F??.
D.
.
Genuine Parts received a promissory note from a customer on March 1, 2015 . The face amount of the note is $8,000; the terms are 90 days and 9% interest. At the maturity date, the customer pays the amount due for the note and interest. What entry is required on the books of Genuine Parts on the maturity date assuming none of the interest had already been recognized?
a. Increase Cash, $8,000, and decrease Notes Receivable $8,000 b. Increase Cash, $8,180, increase Interest Revenue, $180, and decrease Notes Receivable, $8,000 c. Increase Cash $8,720, decrease Notes Receivable $8,000, and increase Interest Revenue, $720 d. No entry is required; the customer pays the amount due to the bank
When is interest expense more than interest paid?
A) when bonds are sold at a premium B) when bonds are sold at a margin C) when bonds are sold at a discount D) when bonds are sold at a yield
Management accounting information is more subjective than financial accounting information
Indicate whether the statement is true or false