Multiple Choice
Carlock Systems received a 6-month, 12% note for $50,000 from a customer on November 1, 2013. The note is due on April 30, 2014. Assuming the company's accounting period ends on December 31, how much interest revenue should be recognized during 2013 and 2014? 2013 2014
A) $2,000 $1,000
B) $1,000 $2,000
C) $0 $6,000
D) $1,000 $5,000
Correct Answer:
Verified
Correct Answer:
Verified
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