Comfort Shoes received a promissory note from a customer on April 1,2017.The face amount of the note is $2,000;the terms are 12 months and 8% annual interest.How much total interest revenue will Comfort Shoes recognize for the year ended December 31,2017?
A) $40
B) $107
C) $120
D) $160
Correct Answer:
Verified
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