Okanagan Tree Services Inc. accepts a 90-day, 6 %, $10,000 note receivable from a customer in settlement of an outstanding accounts receivable on December 16, 2021. The customer pays off the note on its maturity date. How much should Okanagan recognize as interest revenue at December 31, 2021? Okanagan Tree Services Inc. accepts a 90-day, 6 %, $10,000 note receivable from a customer in settlement of an outstanding accounts receivable on December 16, 2021. The customer pays off the note on its maturity date. How much should Okanagan recognize as interest revenue at December 31, 2021? Multiple Choice $50.96 SO $147.95 $24.66

Okanagan Tree Services Inc. accepts a 90-day, 6 %, $10,000 note receivable from a customer in settlement of an outstanding accounts receivable on December 16, 2021. The customer pays off the note on its maturity date. How much should Okanagan recognize as interest revenue at December 31, 2021? Okanagan Tree Services Inc. accepts a 90-day, 6 %, $10,000 note receivable from a customer in settlement of an outstanding accounts receivable on December 16, 2021. The customer pays off the note on its maturity date. How much should Okanagan recognize as interest revenue at December 31, 2021? Multiple Choice $50.96 SO $147.95 $24.66

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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