[Solved] On February 1st,H&B Bank Originated a Loan for $50,000 at an Interest

Question 98
Multiple Choice

On February 1st,H&B Bank originated a loan for $50,000 at an interest rate of 7.2%.On March 15th,an interest payment of $300 was received.Which of the following best describes when interest revenue should be recognized?

A)At a point in time (February 1st)
B)At a point in time (March 15th)
C)At a point in time (March 31st)
D)Over time

10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.


Explore our library and get Accounting Homework Help with various study sets and a huge amount of quizzes and questions


Study sets





Upload material to get free access

Upload Now Upload Now
Upload Now

Invite a friend and get free access

Upload NowInvite a friend
Invite a friend

Subscribe and get an instant access

See our plansSee our plans
See our plans