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Determining Sales and Interest Revenue using Short-Term Note Receivable A one-year, $7,000, 6% note was received by Nadia Company for a credit sale. Assuming

Determining Sales and Interest Revenue using Short-Term Note Receivable A one-year, $7,000, 6% note was received by Nadia Company for a credit sale. Assuming a market rate of 6%, determine (1) the value of sales revenue recognized upon issuance of the note and (2) interest revenue recognized over the term of the note. 1. Sales revenue $ 6,604 x 0 2. Interest revenue $

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