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What is the total amount of interest revenue recorded

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Question - On April 1st, 2012, Tomberlin Ltd. has accepted a $40,000 Note Receivable from a customer. Annual interest rate is 12%. The principal is due on April 1st, 2014 and interest is payable on September 30 and March 31 of the year. What is the total amount of Interest Revenue recorded by Tomberlin Ltd. in 2012?

Reference no: EM133097352

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