If Frasquita accrued interest of $15,000 on the note in its 2016 year-end financial statements,what would the manufacturer record in its 2016 income statement for this transaction?
A) $15,000 of interest revenue.
B) $25,000 of interest revenue.
C) $15,000 of interest revenue and $525,000 of sales revenue.
D) $550,000 of sales revenue.
Correct Answer:
Verified
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