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What amount of Interest Revenue should Fullbright recognize

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Reference no: EM132750673

Question - On January 1, 2017, Fullbright Company sold goods to Blue Dirt Company for $400,000 in exchange for a 4-year, zero-interest-bearing note with a face amount of $629,406 (imputed rate of 12%). The goods have an inventory cost on Fullbright's books of $240,000. What amount of Interest Revenue should Fullbright recognize in 2017?

a. $229,406

b. $75,529

c. $57,352

d. $48,000

Reference no: EM132750673

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