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Posted on Aug 03, 2024

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

On December

1, 2024,

Davenport Company sold merchandise to a customer for $

20, 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 ?

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