On June 8, Alton Co issued an $80,000, 6%, 120-day note payable to Seller Co Assume that the fiscal year of Seller Co ends June 30. Using the 360-day year in your calculations, what is the amount of interest revenue recognized by Seller in the following year?
A) $1,200.00
B) $1,208.89
C) $1,306.67
D) $1,600.00
C
You might also like to view...
Carrington, Inc recorded $97,000 in salary expense for January, 2015 . Its beginning balance in salaries payable was $3,000 and its ending balance was $4,000 . How much was paid in cash for salaries during January, 2015?
a. $96,000 b. $97,000 c. $98,000 d. $99,000
As a promotion technique, samples are often used for new products when ________ will influence the diffusion of the product.
A. relative advantage B. observability C. complexity D. compatibility E. trialability
Which of the following statements is correct?
A. The discounted payback period is generally shorter than the traditional payback period. B. A project might generate multiple rates of return whenever its internal rate of return (IRR) is greater than the firm's required rate of return. C. The net present value (NPV) technique and internal rate of return (IRR) technique can lead to conflicting investment decisions when mutually exclusive projects are being evaluated. D. The net present value (NPV) technique and internal rate of return (IRR) technique can lead to conflicting accept/reject decisions only when independent projects are being evaluated. E. Larger, longer-term projects are favored over smaller, shorter-term alternatives if the required rate of return is relatively high.
Offshore outsourcing occurs when engaging another company within the same country for services.
Answer the following statement true (T) or false (F)