On December 1,2017,Falcon,Inc.sold machinery to a customer for $22,000.The customer could not pay at the time of sale but agreed to pay 6 months later and signed a 6-month note at 11% interest.How much interest revenue was earned for the entire term of the note? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )

Question

Quizplus · Accepted Answer

A)($22,000 × 11%)× 6/12 = $1,210