The bravo company note receivable account has a balance of

Reference no: EM13585624

The Bravo Company note receivable account has a balance of $400,000 at December 31 year end.The notes receivable account consists of two notes, both of which originated during the current year.The first is a $100,000 dated October 31, with principal and 6% interest payable on October 31, one year later. The second is a $300,000 note dated March 31, 2012,with principal and 8% interest payable on March 31 one year later.These were the only two notes that Bravo had during the year.How much interest revenue will appear in Bravo%u2019s current year income statement?

Reference no: EM13585624

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