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.

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

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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.)

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