On November 1, 2014, Salem Corporation sold land priced at


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25

On November 1, 2014, Salem Corporation sold land priced at $920,000 in exchange for a 6%, six-month note receivable. On May 1, 2015 (maturity date), the note is collected in full by Salem Corporation. Assuming a fiscal year-end of December 31, Salem recognizes which of the following in its income statement for 2015 with regard to this note? watrousam
posted a question ยท Mar 11, 2016 at 11:56am

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25