Tempe Corporation
On May 1, 2012, Tempe Corporation sold merchandise to a customer and received a 8%, 6-month note with a principal amount of $100,000. Tempe's year end is December 31.
Refer to the information provided for Tempe Corporation. How much total interest revenue will Tempe Corporation recognize over the term of the note?

Question

Quizplus · Accepted Answer

The Answer of Tempe Corporation
On May 1, 2012, Tempe Corporation sold merchandise to a customer and received a 8%, 6-month note with a principal amount of $100,000. Tempe's year end is December 31.
Refer to the information provided for Tempe Corporation. How much total interest revenue will Tempe Corporation recognize over the term of the note?

Tempe Corporation on May 1, 2012, Tempe Corporation Sold Merchandise to a to a Customer