Question
Rosewood Company made a loan of $6,800 to one of the company's employees on April 1, 2016. The one-year note carried a 6% rate of
| Rosewood Company made a loan of $6,800 to one of the company's employees on April 1, 2016. The one-year note carried a 6% rate of interest. The amount of interest revenue that Rosewood would report in 2016 and 2017, respectively would be:
|
a). $408, $0
b).$0, $408
c).$306, $102
d).$102, $306
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Financial Accounting
Authors: Anne Britton, Chris Waterston
5th edition
273719300, 273719304, 978-0273719304
