Clown’s Financial Statements Report Assignment
February 17th, 2020
On December 31 year-end, Clown Corporation has a $10,800 note receivable from a customer. The interest of 9% has accrued for 5 months on the note..
What will Clown's financial statements report for this situation on December 31? OA. The balance sheet will report the note receivable of $10,800 and interest receivable of $405. O B. The balance sheet will report the note receivable of $10,800. O C. The income statement will report a note receivable of $10,800 O D. Nothing because the business has not received the cash yet. Get Accounting homework help today