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A table of notes receivable for 2018 follows: Principal Interest Rate Interest Period During 2018 Note 1 $30,000 12% 4 months Note 2 10,000 6
A table of notes receivable for 2018 follows:
Principal Interest Rate Interest Period During 2018
Note 1 $30,000 12% 4 months
Note 2 10,000 6 months
Note 3 16,000 5% 270 days
Note 4 100,000 10% 6 months
For each of the notes receivable, compute the amount of interest revenue earned during 2018.Round to the nearest dollar. (Use a 365-day year for the notes with interest periods in days and a 12-month year for notes with interest periods in months.)
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