Question

A table of notes receivable for 2018 follows:

Answer 1

Answer:

The interest revenue is $ 300+$315.62+$887.67+$4500= $ 6003.29

Explanation:

Note 1 :  Interest Revenue =  $ 30,000 * 4% *3/12= $ 300

Note 2 :  Interest  Revenue=  $ 16,000 * 8 % *90/365= $  315.62

Note 3:  Interest Revenue=  $ 18,000 * 10% *180/365= $ 887.67

Note 4:  Interest Revenue=  $ 150,000 * 12% *6/12= $ 4500