[Solved] On February 1st,H&B Bank Originated a Loan for $50,000 at an Interest

Question 98
Multiple Choice

On February 1st,H&B Bank originated a loan for $50,000 at an interest rate of 7.2%.On March 15th,an interest payment of $300 was received.Which of the following best describes when interest revenue should be recognized?

A)At a point in time (February 1st)
B)At a point in time (March 15th)
C)At a point in time (March 31st)
D)Over time

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