What the amount of interest revenue or expense


A 60-day, 12% note for $10,000, dated May 1, is received from a customer on account. If the note is discounted on May 21 at 15%, what the amount of interest revenue or expense to be recorded by the payee of the note on May 21 is ?

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Accounting Basics: What the amount of interest revenue or expense
Reference No:- TGS078982

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