Art Shoes
This company received a promissory note from a customer on July 1, 2019. The face amount of the note is $45,000; the terms are 12 months and 10% annual interest.
Refer to Art Shoes. How much interest revenue will the company recognize for the year ended December 31, 2019?
A. $ 0
B. $9,000
C. $2,250
D. $4,500
Answer: C
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