Vivo Co. received an 8-month, 9% note for $100,000 from its
agent on October 1, 2016. The note is due on May 30, 2017. If Vivo
accounting period ends on December 31, 2016, how much interest
revenue should Vivo recognize during 2016 and 2017?
2016 | 2017 |
a.
$2,250 $3,750
b.
$3,375 $5,625
c.
$9,000 $0
d.
$3,750 $2,250
Answer
Vivo Co. received an 8-month, 9% note for $100,000 from its agent on October 1, 2016....
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