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In: Accounting

The company sold merchandise to a customer on December 1, 2019, for $100,000. The customer paid...

The company sold merchandise to a customer on December 1, 2019, for $100,000. The customer paid with a promissory note that has a term of 6 months and an annual interest rate of 9%. The company’s accounting period ends on December 31.

What amount should the company recognize as interest revenue on December 31, 2019?

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ekkarill92 answered 2 years ago
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