Solution-Compute the credit to interest receivable

Compute the credit to interest receivable

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Reference no: EM132452133

Problem - On June 1, 2017, Kevin Co loaned an employee $17,000 for 9 months. The employee signed a note. The annual interest rate on the note will be 6%. The employee will pay the principal in and interest when it comes due in 2018.

Required - When the note comes due in 2018, compute the credit to interest receivable?

Reference no: EM132452133

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Compute the credit to interest receivable

Reference no: EM132452133

Reference no: EM132452133

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