Determining Sales and Interest Revenue using Short-Term Note Receivable

A one-year, $8,000, 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.

Determining Sales and Interest Revenue using Short-Term A one-year, $8,000,6% note was received by Nadia Company note and (2) interest revenue recognized over the term of the