Business, 25.02.2020 21:50 kalebbenton15

On July 1, year 1, a company obtained a two-year 8% note receivable for services rendered. At that time the market rate of interest was 10%. The face amount of the note and the entire amount of the interest are due on June 30, year 3. Interest receivable at December 31, year 1, was a. 5% of the face value of the note. b. 4% of the face value of the note. c. 5% of the July 1, year 1, present value of the amount due June 30, year 3 d. 4% of the July 1, year 1, present value of the amount due June 30, year 3.

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On July 1, year 1, a company obtained a two-year 8% note receivable for services rendered. At that t...

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