For each of the following notes receivables held by Christensen Company, determine the interest revenue to be reported on the income statements for the year ended December 31. Round answers to the nearest whole dollar. $$\begin{array} { | l | r | c | r | r | }
\hline \text { Date } & \text { Face } & \text { Rate } & \text { Term } & \text { Interest Revenue } \
\hline \text { Aug. } 8 & \$ 45,000 & 7 \% & 45 \text { days } & \
\hline \text { Oct. 7 } & 62,000 & 5 & 60 \text { days } & \
\hline \text { Jan. 6 } & 28,000 & 4 & 120 \text { days } & \
\hline \text { Nov. 12 } & 43,000 & 6 & 60 \text { days } & \
\hline
\end{array}$$

Question

For each of the following notes receivables held by Christensen Company, determine the interest revenue to be reported on the income statements for the year ended December 31. Round answers to the nearest whole dollar. $$\begin{array} { | l | r | c | r | r | } 
\hline \text { Date } & \text { Face } & \text { Rate } & \text { Term } & \text { Interest Revenue } \
\hline \text { Aug. } 8 & \$ 45,000 & 7 \% & 45 \text { days } & \
\hline \text { Oct. 7 } & 62,000 & 5 & 60 \text { days } & \
\hline \text { Jan. 6 } & 28,000 & 4 & 120 \text { days } & \
\hline \text { Nov. 12 } & 43,000 & 6 & 60 \text { days } & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of For each of the following notes receivables held by Christensen Company, determine the interest revenue to be reported on the income statements for the year ended December 31. Round answers to the nearest whole dollar. $$\begin{array} { | l | r | c | r | r | } 
\hline \text { Date } & \text { Face } & \text { Rate } & \text { Term } & \text { Interest Revenue } \
\hline \text { Aug. } 8 & \$ 45,000 & 7 \% & 45 \text { days } & \
\hline \text { Oct. 7 } & 62,000 & 5 & 60 \text { days } & \
\hline \text { Jan. 6 } & 28,000 & 4 & 120 \text { days } & \
\hline \text { Nov. 12 } & 43,000 & 6 & 60 \text { days } & \
\hline
\end{array}$$

For Each of the Following Notes Receivables Held by Christensen