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19. On January 1, 2017, Susan Hong lent $60,104 to Ben Bachu. A zero-interest-bearing note (face amount, $80,000) was exchanged solely for cash; no other
19. On January 1, 2017, Susan Hong lent $60,104 to Ben Bachu. A zero-interest-bearing note (face amount, $80,000) was exchanged solely for cash; no other rights or privileges were exchanged. The note is to be repaid on December 31, 2019. The market rate of interest for a loan of this type is 10%. To the nearest dollar, and using the effective-interest method, how much interest revenue should Ms. Hong recognize in 2017? $24,000 $ 6,010 8,000 $18,030
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