Amount of interest revenue problem


On April 1, 2013 a company lends a corporate customer $80,000 at 7% interest. The amount of interest revenue that should be recorded for the year ended December 31, 2013 is:

a) $5600,

b) $0,

c) $4200,

d) $1400

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Amount of interest revenue problem
Reference No:- TGS039187

Expected delivery within 24 Hours