Pickett Company received a 90 day, six percent note receivable for $20,000 on November 1.How much interest income should be accrued on December 31?$100$200O$300O$400

Note receivable amount = $20,000 Due period = 90 days Note received date = November 1

Answered: Pickett Company received a 90 day, six…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Pickett Company received a 90 day, six percent note receivable for $20,000 on November 1. How much interest income should be accrued on December 31? $100 $200 O$300 O$400