I need answer of this accounting questions On July 1, 2024, a company loans one of its suppliers $75,000 and accepts a 24-month, 12% note receivable. Calculate the amount of interest revenue thecompany will recognize in 2024, 2025, and 2026. (Do not round intermediatecalculations. Round your final answers to the nearest whole dollar.)

Interest revenue = Principal x Annual interest rate x Period 2024 = 6 months (July 1 - December 31,…

Answered: On July 1, 2024, a company loans one of…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 36P

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On July 1, 2024, a company loans one of its suppliers $75,000 and accepts a 24- month, 12% note receivable. Calculate the amount of interest revenue the company will recognize in 2024, 2025, and 2026. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)