On June 1, 2014, Siebens Enterprises loaned $30,000 to Tyler company for one year at 8% interest. Under the terms of the promissory note, Tyler will repay the principal and pay one years interest on May 31, 2015. Related to this note receivable, what amount of interest income would Siebens report on its 2014 income statement?

Question 2 (of 1o) On June 1, 2014, Siebens Enterprises loaned $30,000 to Tyler Company for one year at 8 percent interest. Under the terms of the promissory no interest on May 31, 2015. Related to this note receivable. what amount of interest income would Siebens report on its 2014 income statement? (Round your final answer to O $2.400 $1,500 O $1.200 o $1.400 Type here to search