On 1st July 2020 Star LLC has accepted a note receivable for RO 2000 from one of the accounts receivables. The maturity period is 6 months. The interest rate is 10%. The amount of interest to be recorded in account on 31 December will be. a. RO 400 b. RO 300 c. RO 200 d. RO 100

Q: Knowledge Check 01 Kylah Enterprises signs a 3-month, noninterest-bearing note with a stated rate of…

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A: Interest Amount = P x R x T where,  P - Principal Amount R- Rate of Interest T- Period   Maturity…

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Q: On 1st July 2020 Star LLC has accepted a note receivable for RO 2000 from one of the accounts…

A: Computation of interest as follows RO 2000 * 10% * 6/12 = RO 100

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Q: On 1st July 2020 Star LLC has accepted a note receivable for RO 2000 from one of the accounts…

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Q: On 1st Sept 2020 Sun and sand LLC has accepted a note receivable for RO 2000 from one of the…

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