On July 1, a bank loaned $10,000 to a company in the form of a note receivable. The note requires interest at an annual rate of 10%, and all interest is payable (due) at maturity. The amount of interest revenue that the bank should accrue at the end of December is:
Solved
Show answers
More tips
- H Health and Medicine Trading Semen for Money: Where Can You Sell and Why Would You Want to?...
- L Leisure and Entertainment What Movies You Should Watch: A Guideline to Make the Right Decision...
- F Family and Home How to Choose a Baby Stroller: Tips from Experienced Parents...
- H Health and Medicine 5 Simple Steps to Quit Smoking for Good...
- H Health and Medicine Coughing: Causes, Types, and Treatment Methods...
- H Health and Medicine How to Treat the Flu: A Comprehensive Guide...
- O Other What is a Disk Emulsifier and How Does it Work?...
- F Family and Home What does a newborn need?...
- F Family and Home Choosing the Right Car Seat for Your Child: Tips and Recommendations...
Answers on questions: Business
- B Business Mortgage preapproval means a lender has agreed to loan you a set amount of money as long as you meet certain conditions....
- B Business influences like motivation and learning and influences like reference groups and culture impact a consumer s decision to buy. A) Sociocultural; psychological B) Psychological;...
- B Business The Breeze trading company discloses the following information for the month of August 2016. Aug. 01: Beginning inventory, 600 units @ $5 each each. Aug. 10: Sold 400 units...
- B Business Population growth: Suppose the world population today is 7 billion, and sup- pose this population grows at a constant rate of 3% per year from now on. (This rate is almost...
- B Business Unit-Based Versus Activity-Based Costing Fisico Company produces exercise bikes. One of its plants produces two versions: a standard model and a deluxe model. The deluxe model...
- B Business What is part of the double entry system. (cash book/general journal/sales journal/trial bbalanc)pl answer ..due 5 mins...
- B Business Fastener Products, Inc., a maker of nuts and bolts, sells its products to retail establishments. It charges one price to small family-owned hardware stores and a lower price...
- B Business Damian, a recent college graduate with a degree in accounting, is helping a newly formed construction company set up its accounting system. Although the company had purchased...
- B Business Mason and Chenoa orally agree to a contract in which Mason will replace the fixtures in Chenoa’s bathroom. In exchange, Chenoa agrees to cut Mason’s hair every six weeks for...
- B Business Trading stocks, buying and selling currency, and purchasing a new computer from the store are all examples of . regulations capital goods markets...
Ответ:
$500
Explanation:
Annual interest revenue = $10,000 × 10% = $1,000
Interest revenue earned from July 1 to December 31 = $1,000 × (6/12) = $500.
Therefore, amount of interest revenue that the bank should accrue at the end of December is $500.
Ответ: