4.5 points Save Answer On June 1, Tracey Co. sold equipment to Linda and agreed to accept a 3-month, $100,000, 10% interest-bearing note in payment at a time when the prevailing rate of interest for similar transactions was 10%. When the note was collected upon maturity, Tracey would recognize interest revenue of: O a. $2,500. O b. $7,500. O c. $5,000. O d. $0

13 points On June 1, Tracey Co. sold equipment to Linda and agreed to accept a 3-month, $100,000, 10% interest-bearing note in payment at a time when the prevailing rate of interest for similar transactions was 10% When the note was cofected upon maturity, Tracey would recognize interest revenue of +$500 $7.500 Oc$5,000 04.00