A table of notes receivable for 2024 follows: E (Click the icon to view the table of notes receivable for 2024.) For each of the notes receivable, compute the amount of interest revenue earned during 2024. Round to the nearest dollar. (Ignore leaps years, and use a 365-day year for the notes with interest periods in days. Use a 12-month year for notes with interest periods in months.) Interest revenue earned during 2024 Note 1 Note 2 Note 3 Note 4 Data Table Principal Interest Rate Interest Period During 2024 Note 1 $ 60,000 8% 9 months Note 2 14,000 12% 180 days Note 3 22,000 5% 270 days Note 4 150,000 11% 3 months Print Done

A table of notes receivable for 2024 follows: E (Click the icon to view the table of notes receivable for 2024.) For each of the notes receivable, compute the amount of interest revenue earned during 2024. Round to the nearest dollar. (Ignore leaps years, and use a 365-day year for the notes with interest periods in days. Use a 12-month year for notes with interest periods in months.) Interest revenue earned during 2024 Note 1 Note 2 Note 3 Note 4 Data Table Principal Interest Rate Interest Period During 2024 Note 1 $ 60,000 8% 9 months Note 2 14,000 12% 180 days Note 3 22,000 5% 270 days Note 4 150,000 11% 3 months Print Done

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.12E

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