Show your work please. 1- On January 1, a company lends a corporate customer $80,000...
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Accounting
Show your work please.
1- On January 1, a company lends a corporate customer $80,000 at 6% interest. The amount of interest revenue that should be recorded for the first quarter is how much?
2- A company lends its CEO $150,000 for three years, at a 6% annual interest rate. Interest payments are to be made twice a year. Each interest payment will be for how much?
3- A company lends a major client $90,000 for one year at a 7% annual interest rate. Interest payments are to be made twice a year but the company wants to recognize interest earned on a monthly basis. On a month in which the company does not receive any interest payments. How much interest has accrued?
4-Generous Inc. lends Blue Inc $40,000 on April 1, accepting a four-month, 4.5% interest bearing note. Generous Inc. prepares financial statements on April 30.
Compute the Interest Accrued.
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