Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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Get correct answer general accounting
Transcribed Image Text:On July 1, 2016, Empire Inc. lends $13,800 to a customer and
receives a 12% note due in two years. Interest is due in full on
July 1, 2018, the due date of the note. What is the amount of
Interest Revenue that will be reported on the Empire's income
statement for the year ended December 31, 2016?
a) 1,656.
b) $3,312.
c) $828.
d) $966.
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