The amount of interest revenue that will be recorded in the books of Jovel Company as on December 31 will be $1,000.
<h3>What is interest revenue?</h3>
The revenue which is generated by a company by the way of earnings made through interest over debts during a financial period is known as an interest revenue.
Using the above information, it can be ascertained that the total interest revenue over a loan of $100,000 will be $6,000, however, it was issued on November 1, and accounts close on December 31, so the interest revenue for 2 months will be computed as under,
Thus, the interest revenue has been computed as above.
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