Lubing Company
Lubing Company sold merchandise to Lewing Corporation. on December 1, 2012, for $100,000. Lubing accepted a promissory note from Lewing Corporation for $100,000. The note has a term of 6 months and an annual interest rate of 9%. Lubing's accounting period ends on December 31, 2012.
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Refer to the information provided for Lubing Company. What amount should Lubing recognize as interest revenue on the maturity date of the note?

Question

Lubing Company 
Lubing Company sold merchandise to Lewing Corporation. on December 1, 2012, for $100,000. Lubing accepted a promissory note from Lewing Corporation for $100,000. The note has a term of 6 months and an annual interest rate of 9%. Lubing's accounting period ends on December 31, 2012.
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Refer to the information provided for Lubing Company. What amount should Lubing recognize as interest revenue on the maturity date of the note?

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The Answer of Lubing Company 
Lubing Company sold merchandise to Lewing Corporation. on December 1, 2012, for $100,000. Lubing accepted a promissory note from Lewing Corporation for $100,000. The note has a term of 6 months and an annual interest rate of 9%. Lubing's accounting period ends on December 31, 2012.
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Refer to the information provided for Lubing Company. What amount should Lubing recognize as interest revenue on the maturity date of the note?

Lubing Company Lubing Company Sold Merchandise to Lewing Corporation. on December 1