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On October 1, 2018, Equipment Suppliers, Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 12%.
On October 1, 2018, Equipment Suppliers, Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 12%. How much interest revenue did the company record in the year 2018? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) O A. $1,200 B. $4,000 OC. $1,000 OD. $3,000
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Financial Accounting A Management Perspective
Authors: Nelson Macwan
1st Edition
6206142191, 978-6206142195
