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Homework answers / question archive / On July 1, 2005, Icespresso Inc, signed a two-year $8,000 note receivable with 9 percent interest

On July 1, 2005, Icespresso Inc, signed a two-year $8,000 note receivable with 9 percent interest

Accounting

On July 1, 2005, Icespresso Inc, signed a two-year $8,000 note receivable with 9 percent interest. At its due date, July 1, 2007 the principal and interest will be received in full Interest revenue should be reported on Icepresco's income statement for the year ended December 31, 2005, in the amount of

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