Accounting help hw please?

Answers:0   |   LastUpdateAt:2012-08-12 04:51:39  

Question
Morgan Rosell
Asked at 2012-08-12 04:51:39
Green Plains Supply Co. has the following transactions related to notes receivable in the last 2 months.

November 1 cash loan $ 63,450 to B. young at 1 year, 8% note .
December 11 products sold RP Meier, Inc. , to receive a $ 5,700, 90 days , 7% .
Received December 16 a note of $ 13,400 , 6 months , 9 % to settle into an account from M. Chen.
December 31 accrued income receivable interest on the notes.

What is the interest receivable and interest income ? How do you do ?
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