Homework Answers
| Accrued interest revenue = 3132*5%*8/12= $104.40 |
| Excess Interest receivable debited = 156.60-104.40= $52.20 |
| The accountant incorrectly debited interest receivable too much in the amount of $52.20 |
| Option A is correct |
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A loan was made to another business on May 1, 20x1 in the amount of $3132...
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