Business, 06.05.2020 17:09 lizbethmillanvazquez
At December 31 year-end, Cotton Corporation has a $ 9 comma 200 note receivable from a customer. Interest of 9% has accrued for 5 months on the note. What will Cotton's income statement for the year ended December 31 report for this situation?
A. Nothing because the business has not received the cash yet
B. Interest revenue of $ 345
C. Note receivable of $ 9 comma 200
D. Both b and c
Answers: 2
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At December 31 year-end, Cotton Corporation has a $ 9 comma 200 note receivable from a customer. Int...
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