On October 1,2017,Android,Inc.made a loan to one of its customers.The customer signed a 4-month note for $110,000 at 12%.How much interest revenue did the company record in the year 2017? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )
A) $1,320
B) $1,100
C) $4,400
D) $3,300
Correct Answer:
Verified
Q132: The following selected transactions occurred during 2016
Q134: On October 1,2017,Parkin,Inc.made a loan to one
Q135: On July 1,2017,Collins Jewelers accepted a 3-month,15%
Q136: On December 1,2017,Sheehan,Inc.sold machinery to a customer
Q138: On October 1,2017,Miller,Inc.made a loan to one
Q139: On October 1,2017,Parsons,Inc.sold machinery to a customer
Q140: On December 1,2017,Falcon,Inc.sold machinery to a customer
Q142: On January 1,Ajax Corp.accepted a one-year note
Q181: If the maker of the note fails
Q200: Which of the following is the result
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents