For each of the following notes receivables held by Winter Company, determine the interest revenue to be reported on the income statements. Round answers to nearest whole dollar. $$\begin{array} { | l | c | c | c | c | c | }
\hline{ \text { Date } } & \text { Face } & \text { Rate } & \text { Term } & \begin{array} { c }
\text { Year 1 } \
\text { Interest } \
\text { Revenue }
\end{array} & \begin{array} { c }
\text { Year 2 } \
\text { Interest } \
\text { Revenue }
\end{array} \
\hline \text { Aug. 8, Year 1 } & \$ 15,000 & 7 \% & 180 \text { days } & & \
\hline \text { Oct. 7, Year 1 } & 22,000 & 8 & 60 \text { days } & & \
\hline \text { Jan. 6, Year 2 } & 30,000 & 8 & 90 \text { days } & & \
\hline \text { Nov. 12, Year 1 } & 28,000 & 9 & 60 \text { days } & & \
\hline
\end{array}$$

Question

For each of the following notes receivables held by Winter Company, determine the interest revenue to be reported on the income statements. Round answers to nearest whole dollar. $$\begin{array} { | l | c | c | c | c | c | } 
\hline{ \text { Date } } & \text { Face } & \text { Rate } & \text { Term } & \begin{array} { c } 
\text { Year 1 } \
\text { Interest } \
\text { Revenue }
\end{array} & \begin{array} { c } 
\text { Year 2 } \
\text { Interest } \
\text { Revenue }
\end{array} \
\hline \text { Aug. 8, Year 1 } & \$ 15,000 & 7 \% & 180 \text { days } & & \
\hline \text { Oct. 7, Year 1 } & 22,000 & 8 & 60 \text { days } & & \
\hline \text { Jan. 6, Year 2 } & 30,000 & 8 & 90 \text { days } & & \
\hline \text { Nov. 12, Year 1 } & 28,000 & 9 & 60 \text { days } & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of For each of the following notes receivables held by Winter Company, determine the interest revenue to be reported on the income statements. Round answers to nearest whole dollar. $$\begin{array} { | l | c | c | c | c | c | } 
\hline{ \text { Date } } & \text { Face } & \text { Rate } & \text { Term } & \begin{array} { c } 
\text { Year 1 } \
\text { Interest } \
\text { Revenue }
\end{array} & \begin{array} { c } 
\text { Year 2 } \
\text { Interest } \
\text { Revenue }
\end{array} \
\hline \text { Aug. 8, Year 1 } & \$ 15,000 & 7 \% & 180 \text { days } & & \
\hline \text { Oct. 7, Year 1 } & 22,000 & 8 & 60 \text { days } & & \
\hline \text { Jan. 6, Year 2 } & 30,000 & 8 & 90 \text { days } & & \
\hline \text { Nov. 12, Year 1 } & 28,000 & 9 & 60 \text { days } & & \
\hline
\end{array}$$

For Each of the Following Notes Receivables Held by Winter