Business
Business, 06.05.2020 17:09, lizbethmillanvazquez

At December 31 year-end, Cotton Corporation has a $ 9 comma 200 note receivable from a customer. Interest of 9% has accrued for 5 months on the note. What will Cotton's income statement for the year ended December 31 report for this situation?

A. Nothing because the business has not received the cash yet

B. Interest revenue of $ 345

C. Note receivable of $ 9 comma 200

D. Both b and c

answer
Answers: 2

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At December 31 year-end, Cotton Corporation has a $ 9 comma 200 note receivable from a customer. Int...

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