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On March 1, 2020, Monicas Closet performed organization services for a client in exchange for a $6000 note receivable (3% interest rate, interest and principal
On March 1, 2020, Monicas Closet performed organization services for a client in exchange for a $6000 note receivable (3% interest rate, interest and principal due December 31, 2020). On May 1, 2020, Phoebes Bank agreed to discount the note at a 2% discount rate. What is the interest revenue or interest expense Monica's Closet records upon transferring the note? If interest expense, give as a negative number. Do not use $ or commas in your answer.
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