On December 1, 2018, Davenport Company sold merchandise to a customer for $20,000. In payment for themerchandise, the customer signed a 6% note requiring the payment of interest and principal on March 1, 2019.How much interest revenue will the company recognize during 2018? In 2019?

On December 1, 2018, Davenport Company sold merchandise to a customer for $20,000. In payment for themerchandise, the customer signed a 6% note requiring the payment of interest and principal on March 1, 2019.How much interest revenue will the company recognize during 2018? In 2019?

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Chapter1: Financial Statements And Business Decisions

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On December 1, 2018, Davenport Company sold merchandise to a customer for $20,000. In payment for the
merchandise, the customer signed a 6% note requiring the payment of interest and principal on March 1, 2019.
How much interest revenue will the company recognize during 2018? In 2019?

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