Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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On April 1 of Year 1, Respawn accepted a $23,200, 12-month, 9% note from a customer in granting a time extension on his past-due
account receivable. Respawn's year-end is December 31. Compute interest revenue recorded by Respawn in Year 1 and Year 2.
Interest Earned
Year 1
Year 2
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Transcribed Image Text:On April 1 of Year 1, Respawn accepted a $23,200, 12-month, 9% note from a customer in granting a time extension on his past-due account receivable. Respawn's year-end is December 31. Compute interest revenue recorded by Respawn in Year 1 and Year 2. Interest Earned Year 1 Year 2
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