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Which terms would fit the note receivable

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Reference no: EM132813414

Problem 1: In the April 30, 2011 statement of financial position, a note receivable was reported as a noncurrent asset and the accrued interest receivable for eight months was reported as a current asset. Which of the following terms would fit the note receivable?

a. Both principal and interest are payable on August 31, 2011 and August 31, 2012

b. Principal and interest are due December 31, 2011

c. Both principal and interest are payable on December 31, 2011 and December 31, 2012

d. Principal is due August 31, 2012, and interest is due August 31, 2011 and August 31, 2012.

Reference no: EM132813414

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