On April 7, Willow, Inc.sold goods for $20, 000 and accepted a 9%, 60-day note.On April 22, the company discounted the note at 12%.
Required:
Compute the amount of interest revenue and the loss on sale of the note.

Question

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The Answer of On April 7, Willow, Inc.sold goods for $20, 000 and accepted a 9%, 60-day note.On April 22, the company discounted the note at 12%.
Required:
Compute the amount of interest revenue and the loss on sale of the note.