ACCT 301 The notes receivable are due April 30, 2016, with interest receivable

| April 14, 2018

Question is: The notes receivable are due April 30, 2016, with interest receivable every April 30. The notes bear interest at 6%. (Hint: Accrued interest due on December 31, 2014.)Inventory (finished goods)$ 52,790Cost of Goods Sold$2,177,000Unearned Service Revenue91,240Notes Receivable57,600Equipment256,600Accounts Receivable166,000Inventory (work in process)34,860Inventory (raw materials)216,340Cash44,800Supplies Expense66,638Equity Investments (short-term)34,880Allowance for Doubtful Accounts12,800Customer Advances47,800Licenses18,830Restricted Cash for Plant Expansion51,600Additional Paid-in Capital88,850Notes Receivable and times it by 6%figure the interest receivable:Treasury Stock25,880

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