Eight-month note receivable

Reference no: EM13700951

Consider the following independent scenarios.

On 1 March this year, a company accepts a $10 000, 5 per cent, eight-month note receivable.
On 1 September last year, a company accepts a $20 000, 8 per cent, six-month note receivable.
On 15 December last year, a company accepts a $15 000, 10 per cent, four-month note receivable.
Required

Assuming a 30 June (this year) year-end, calculate current-year interest revenue for each scenario.

Reference no: EM13700951

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