On October 1, 2021, Stripes Inc. lends $100,000 to another company and accepts a 24-month, 6% note. What is the amount of interest revenue Stripes will report in its 2022 income statement?
A) $0.
B) $1,500.
C) $4,500.
D) $6,000.
Answer: $6,000.
Accounting MCQ
Accounting
On October 1, 2021, Stripes Inc. lends $100,000 to another company and accepts a 24-month, 6% note. What is the amount of interest revenue Stripes will report in its 2022 income statement?
Subscribe to:
Post Comments (Atom)
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.