Determine the interest revenue which is accrued, Accounting Basics

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Determine the interest revenue which is accrued

Allen's Jewelry accepted a $3,600 note from S. Wells in settlement of an old account receivable. The 12 percent note was dated November 2, 2008, and was due in 120 days. Assume that Allen's Jewelry closes its books on December 31. How much interest revenue (rounded to whole dollar) is accrued on December 31, 2008?

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Accounting Basics: Determine the interest revenue which is accrued

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Accounting Basics: Determine the interest revenue which is accrued

Reference No:- TGS079251

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Recent Questions Asked Accounting Basics

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Accounting Basics: Determine the interest revenue which is accrued

Reference No:- TGS079251

Recent Questions Asked Accounting Basics

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Q : Determine the interest revenue which is accrued

Q : What is the amount of bond interest expense

Q : Auditor to plan the audit to detect misstatements

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Q : Types of consulting services that audit firms have provided

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