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On october 1, 2014, balkan, inc. accepted from another corporation a 1-year note receivable in the amount of $15,000, with an interest rate of 6%. how did this transaction affect balkan's financial statements?
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On october 1, 2014, balkan, inc. accepted from another corporation a 1-year note receivable in the amount of $15,000, with an interest rate of 6%. how did this transaction affect balkan's financial statements?

User Ovadia
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Balkan's assets will increase by Accounted receivable: $15,000 + Interest Receivable (0.06)$15000 = $15,900, at October 1st, 2014.
User Adrien Gorrell
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