afari File Edit View History Bookmarks Window Help 38% r+) Thu 3:32 PM D HwK Que

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afari File Edit View History Bookmarks Window Help 38% r+) Thu 3:32 PM D HwK Questions 5-7 (of 10) The following information applies to the questions displayed below) Husemann Co's assets include notes receivable from customers. During fiscal 2016, the amount of notes interest rate of the notes averaged 9.3% value 1.00 points Required: a-1. Calculate the amount of interest income earned by Husemann Co. during fiscal 2016. References eBook & Resources Learning Objective: 05-06 Explain how notes receivable and related accrued interest are reported on the balance sheet Worksheet Difficulty: 1 Easy

Explanation / Answer

a-1 Amount of interest income earned = $46,600 × 9.3% = $4,333.9 or $4,334(rounded)

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