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Posted on Sep 15, 2024

On December 1 , 2 0 2 4 , Davenport Company sold merchandise to a customer for $ 3 1 , 0 0 0 .

On December

1, 2024,

Davenport Company sold merchandise to a customer for $

31, 000 .

In payment for the merchandise, the customer signed a

6 %

note requiring the payment of interest and principal on March

1, 2025 .

How much interest revenue will the company recognize during

2024

and

2025 ?

Note: Do not round intermediate calculations.

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