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BlossomCo. has three outstanding notes receivable at its December 31, 2021, fiscal year end. For each note, calculate (a) total interest revenue, (b) interest revenue
BlossomCo. has three outstanding notes receivable at its December 31, 2021, fiscal year end. For each note, calculate (a) total interest revenue, (b) interest revenue to be recorded in 2021, and (c) interest revenue to be recorded in 2022.(Round answers to 0 decimal places, e.g. 5,275.)
Issue Date
TermPrincipalInterest Rate1.August 31, 20219 months
$14,400
6%
2.November 1, 20216 months
46,800
8%
3.October 1, 202115 months
32,400
7%
Note
(a) Total Interest
(b) Interest 2021(c) Interest 20221.
$
$
$2.$
$
$
3.
$
$$
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