rosewood company made a loan of $12,600 to one of the company's employees on april 1, year 1. the one-year note carried a 6% rate of interest. what is the amount of interest revenue that rosewood would report in year 1 and year 2 respectively?

College Accounting, Chapters 1-27
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Chapter17: Accounting For Notes And Interest
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rosewood company made a loan of $12,600 to one of the company's employees on april 1, year 1. the one-year note carried a 6% rate of interest. what is the amount of interest revenue that rosewood would report in year 1 and year 2 respectively?

 

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Rosewood Company made a loan of $12,600 to one of the company's employees on April 1, Year 1. The one-year note carried a 6% rate of
interest. What is the amount of interest revenue that Rosewood would report in Year 1 and Year 2, respectively?
Transcribed Image Text:Se Help Save & Exit Rosewood Company made a loan of $12,600 to one of the company's employees on April 1, Year 1. The one-year note carried a 6% rate of interest. What is the amount of interest revenue that Rosewood would report in Year 1 and Year 2, respectively?
$0 in Year 1 and $756 in Year 2
O $756 in Year 1 and $0 in Year 2
O $567 in Year 1 and $189 in Year 2
O
$189 in Year 1 and $567 in Year 2
Transcribed Image Text:$0 in Year 1 and $756 in Year 2 O $756 in Year 1 and $0 in Year 2 O $567 in Year 1 and $189 in Year 2 O $189 in Year 1 and $567 in Year 2
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