Interest Bearing Notes Receivable Entries (Intermediate Financial Accounting I #10)

Get ready to account for interest bearing notes receivable in this tutorial. We'll cover how to recognize the notes receivable along with how to account for interest payments (interest revenue) and how to derecognize the note at the end of the term.
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[@mj3461]

Why is the semiannual interest being paid monthly???

[@calumharris7574]

Good explanation. Thanks