Determine the interest revenue which is accrued


Allen's Jewelry accepted a $3,600 note from S. Wells in settlement of an old account receivable. The 12 percent note was dated November 2, 2008, and was due in 120 days. Assume that Allen's Jewelry closes its books on December 31. How much interest revenue (rounded to whole dollar) is accrued on December 31, 2008?

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Accounting Basics: Determine the interest revenue which is accrued
Reference No:- TGS079251

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