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On April , 2018 Needy Company note had a 12 percent interest rate ssuming no other siasactoaey Company 1,200 400 ssu Peren intere my issuda $10,00 note to Money Company. The e and was to be repaid, with interest, on April 1, 2019. ons, and a al amount of interest revenue that Money C tansections and restrvee hat nd a year end of December 31 each year, the Money Company recorded in 2019 would be
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Answer #1

Calculate amount of interest revenue

Amount of interest revenue = 10000*12%*3/12 = $300

So answer is $300

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