Solution-What amount of interest revenue that richmond

What amount of interest revenue that richmond would report

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Reference no: EM132953425

Problem 1: Richmond Company made a loan of $11,500 to one of the company's employees on April 1, 2011. The one-year note carried a 17% rate of interest. The amount of interest revenue that Richmond would report in 2011 and 2012, respectively would be:

A. $1,955.00, $0
B. $488.75, $1,466.25
C. $1,466.25, $488.75
D. $0, $1,955.00

Reference no: EM132953425

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What amount of interest revenue that richmond would report

Reference no: EM132953425

Reference no: EM132953425

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