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 2021 income statement?
A) $750.
B) $1,500.
C) $4,500.
D) $6,000.
Answer: $1,500.
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 2021 income statement?
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