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06-12-2019
Business

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On December 1, Bright Company receives a 6% interest-bearing note from Galvalume Company to settle a $20,000 account receivable. The note is due in three months. At December 31, Bright should record interest revenue ofa. $100.b. $600.c. $0.d. $200.

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akiran007 akiran007

06-12-2019

Answer:

a. $ 100

Explanation:

interest revenue = $ 100

6% of 20000 $= 1200$

after 1 month interest would be $1200/12= $100

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