FDN Company received a four-month note receivable in the amount of PHP41,000,000 on September 1. The note requires interest at an annual rate of 9%. How much is the accrued interest income at the end of September?

FDN Company received a four-month note receivable in the amount of PHP41,000,000 on September 1. The note requires interest at an annual rate of 9%. How much is the accrued interest income at the end of September?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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