Vincent Company accepted a 12-month, 7% promissory note from a customer, Graves Company, on September 1, Year 1, in exchange for $24,000 of services that Vincent performed. What amount will be collected on August 31, Year 2?

Question

Quizplus · Accepted Answer

The Answer of Vincent Company accepted a 12-month, 7% promissory note from a customer, Graves Company, on September 1, Year 1, in exchange for $24,000 of services that Vincent performed. What amount will be collected on August 31, Year 2?

Vincent Company Accepted a 12-Month, 7% Promissory Note from a Customer