Saturday, October 10, 2020

On September 1, 2021, a company accepts a $9,000, 12-month note receivable. For 2021, the company reports interest revenue of $240. How much interest revenue will the company report in 2022?

On September 1, 2021, a company accepts a $9,000, 12-month note receivable. For 2021, the company reports interest revenue of $240. How much interest revenue will the company report in 2022?


A) $240.

B) $480.

C) $720.

D) The answer cannot be determined with the information given.


Answer: $480.

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