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How much interest revenue should shadytree recognize

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Reference no: EM132933204

Problem 1: ShadyTree Company issued a note receivable to a customer. The face value of the note was $15,000 at 3% interest for 5 months. How much interest revenue should ShadyTree recognize for the entire term of the note?

Option 1: $450
Option 2: $37.50
Option 3: $262.50
Option 4: $187.50

Reference no: EM132933204

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