What is the amount of interest revenue? Felix Financial Services lentlent acorporate client $152,000 at anannual interest rate of 6.5% onJanuary 1. What is the amount ofinterest revenue that should berecorded for the quarter endingMarch 31?

To determine the interest revenue Felix Financial Services should record for the quarter ending…

Answered: Felix Financial Services lent lent a…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...

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Felix Financial Services lent lent a corporate client $152,000 at an annual interest rate of 6.5% on January 1. What is the amount of interest revenue that should be recorded for the quarter ending March 31?