Utah CoSold Merchandise to Big Sky Corp

question 63

Multiple Choice

Utah Co.sold merchandise to Big Sky Corp.on December 1, 2016, for $9,000, and accepted a promissory note for payment in the same amount.The note has a term of 90 days and a stated interest rate of 8%.Utah's accounting period ends on December 31.What amount should Utah recognize as interest revenue on the maturity date of the note?

• A) $ -0-
• B) $ 60
• C) $120
• D) $180

Learn about the significance of the DSM-5 in diagnosing mental disorders and understand basic diagnostic criteria.

Become familiar with common treatments and medications for bipolar disorder and depressive disorders.

Understand the role and impact of neurotransmitters in bipolar disorder and depression.

Recognize the relationship between smoking habits and psychological disorders.

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Definitions:

Right-Brained

Refers to a theory in which the right hemisphere of the brain is more responsible for creative, intuitive, and holistic thought processes.

Left-Brained

Referring to an outdated theory where an individual is thought to be more analytical and logical, supposedly due to the dominant use of the left hemisphere of the brain.

Hemisphere Specialization

The concept that certain functions are more dominantly handled by one of the two hemispheres of the brain.

Corpus Callosum

A broad band of nerve fibers joining the two hemispheres of the brain.