Calculate amount of interest revenue oberley will recognize
On October 1, 2015, Oberley Corporation loans one of its employees $39,000 and accepts a 12-month, 8% note receivable. Calculate the amount of interest revenue Oberley will recognize in 2015 and 2016.
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The Ward Company has provided the following information: • Net sales totaled $750,000. • Beginning net accounts receivable was $65,000. • Ending net accounts receivable was $85,000.
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