On September 1, 2021, Middleton Corp. lends cash and accepts a $1,200 note receivable that offers 6% interest and is due in six months. How much interest revenue will Middieton Corp. report during 2021? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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On September 1, 2021, Middleton Corp. lends cash and accepts a $1,200 note receivable that offers 6% interest and is due in six months. How much

interest revenue will Middleton Corp. report during 2021? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)
 
On September 1, 2021, Middleton Corp. lends cash and accepts a $1,200 note receivable that offers 6% Interest and is due in six months. How much
interest revenue will Middleton Corp. report during 2021? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)
Multiple Choice
$72
$24.
$192.
$168.
Transcribed Image Text:On September 1, 2021, Middleton Corp. lends cash and accepts a $1,200 note receivable that offers 6% Interest and is due in six months. How much interest revenue will Middleton Corp. report during 2021? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $72 $24. $192. $168.
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