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b-1. If the balance in the Interest Recelva ble account increased by $2.000 from the beginning to the end of the fiscal year, now much interest receivable was collected during the fsca

business accounting

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Answer 1

Answer #1

Balance in Note receivable 2016 - $45,200

Interest rate - 9.3%

as it is given $2000 increased in Notes receivable from beginning to the end

so, new balance is $45200+2000= $47200

interest- 9.3%

interest collected = 47200*9.3%= $ 4390

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Answer 2

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