On December 1, 2020, Eagle Company sold machinery to a customer for $22,000. The customer could not pay at the time of sale but agreed to pay 6 months later and signed a 6-month note at 12% interest. How much interest revenue was earned for the entire term of the note? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $1320
B) $1100
C) $220
D) $2640
A) $1320
Explanation: ($22,000 × 12%) × 6/12 = $1320
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