At December 31, bright should record interest revenue of $100. Money gained by lending money or money acquired from depositing or investing can both be referred to as interest revenue.
Is interest revenue a liability or an asset?
If a company anticipates receiving the interest payment within the year, it typically records the interest receivable as a current asset on its balance sheet. Companies that collect interest from loans view this revenue as a significant source of income that belongs at the top of the income statement. It is the price of taking out a loan from a bank, financial institution, bond buyer, or another lender. In order to assist a business finance its operations, such as the acquisition of rival businesses or machinery, plant, and property, interest expense is incurred.
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Do you need help or are you telling?
Mark's action on the given scenario above is that he is showing courtesy. Courtesy is a way of showing politeness towards other people. This is shown where Mark ended the call because Kelly already arrives. He prioritizes Kelly first because he does not want to make her wait and she's already there to see him.
