QUESTION 4On June 1, 2018, Bodie Co. accepted a $9,300 face value note as evidence of a loan it made to T Company. The note had a 8 percent interest rate and aone-year term. What is the interest revenue recognized by Bodie in 20187

Solution: Interest revenue will be recognized in 2018 will be interest for 7 months that is from…

Answered: On June 1, 2018, Bodie Co. accepted a…

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 9.14E

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On June 1, 2018, Bodie Co. accepted a $9,300 face value note as evidence of a loan it made to T Company. The note had a 8 percent interest rate a one-year term. What is the interest revenue recognized by Bodie in 2018?