A Six-Month Note Receivable for $4,000 at 12% Dated September

question 48

Multiple Choice

A six-month note receivable for $4,000 at 12% dated September 1,2011,has accrued interest revenue of ________ on December 31,2011.

• A) $480
• B) $240
• C) $160
• D) $80

Understand how socialization and reinforcement contribute to the formation of gender roles.

Grasp the basics of evolutionary psychology in explaining gender differences and the concept of natural selection pressures.

Describe the influence of prenatal hormone exposure on gender development.

Distinguish between the various theories explaining gender differences, including social learning theory, evolutionary psychology, and social role theory.

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Definitions:

Interest Accrued

Interest that has been earned but not yet paid or received, typically recorded as an asset or expense depending on context.

Adjusting Entry

a journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period for accurate financial reporting.

Interest Receivable

Interest Receivable refers to the interest income that has been earned but not yet received in cash.

Unearned Revenue

Income received by a company for goods or services to be provided in the future; it is recorded as a liability until the service or product is delivered.