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15 2.5 pts H&N Company sold hats to Leo's Warehouse on January 1, 2021, accepting a $400,000, three-year noninterest-bearing note in payment for the shoes.
15 2.5 pts H&N Company sold hats to Leo's Warehouse on January 1, 2021, accepting a $400,000, three-year noninterest-bearing note in payment for the shoes. Assuming a 12% effective interest rate, what is the amount of revenue reported in the income statement at the end of 2022? (Round all calculations to the nearest whole numbers.) $318,877 $34,165 $38,265 $284,712
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