A $20,000, 9%, 3-Month Note Receivable Is Issued on December

question 35

Multiple Choice

A $20,000, 9%, 3-month note receivable is issued on December 1, with interest due at maturity. When the note is paid the following February, the payee's entry includes (assuming a calendar-year accounting period) a credit to interest revenue of

• A)$ 150.
• B)$ 300.
• C)$ 450.
• D)$20,450.

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Definitions:

Direct Supervision

A management style where the supervisor is physically present and closely overseeing the work of their subordinates.

Mobbing

A form of bullying or harassment where an individual is attacked by a group in a work or school setting.

Demotion

The action of lowering in rank or position, usually as a result of performance issues or organizational restructuring.

Paycuts

Reductions in the amount of money employees are paid as wages or salaries.