Current Attempt in Progress Sheridan Company leased machinery to Conecuh Company on January 1, 2025, for a ten-year period expiring December 31, 2034. Equal annual payments under the lease are $349000 and are due on January 1 of each year. The first payment was made on January 1, 2025. The rate of interest used by Sheridan and Conecuh is 9%. The cash selling price of the machinery is $2443000 and the cost of the machinery on Sheridan's accounting records was $1873000. Assuming that the lease is appropriately recorded as a sale for accounting purposes by Sheridan, what amount of interest revenue would Sheridan record for the year ended December 31, 2025? O $190790 $6990 O $188311 O $188460

Sheridan Company leased machinery to Conecuh Company on January 1,2025, for a ten-year period expiring December 31, 2034. Equal annual payments under the lease are $349000 and are due on January 1 of each year. The first payment was made on January 1.2025. The rate of interest used by Sheridan and Conecuh is 9%. The cash selling price of the machinery is $2443000 and the cost of the machinery on Sheridan's accounting records was $1873000. Assuming that the lease is appropriately recorded as a sale for accounting purposes by Sheridan, what amount of interest revenue would Sheridan record for the year ended December 31, 2025? $190790 $6990 $188311 $188460