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a/cs receivable

Mmp-open11y ago
Hallo In the following example, shouldn't we credit A/R with 2200 instead of 2000, why is it 2000: On February 1, 2012, Sanger Corp. lends cash and accepts a $2,000 note receivable that offers 10% interest and is due in six months. What would Sanger record on August 1, 2012, when the borrower pays Sanger the correct amount owed? Cash 2,100 Interest Revenue 100/Notes Receivable 2,000 Interest revenue = $2,000 x 10% x 6/12 = $100 Thank you!
John MoffatJohn MoffatTutor11y ago#1
Again - this cannot be asked in Paper F3. It is not in the syllabus. You will have to stop asking these questions - sorry.
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