Interest Receivable on January 1 and December 31 Totals $3,780

question 75

Multiple Choice

Interest receivable on January 1 and December 31 totals $3,780 and $3,450, respectively. During the year, cash received from interest is $11,000. Determine interest revenue for the current year.

• A)$3,115
• B)$1,330
• C)$12,330
• D)$10,670

---

Definitions:

Duty

A moral or legal obligation to perform or refrain from performing a certain action.

Obligation

A duty or commitment that one is bound to by law, promise, or moral responsibility.

Induced Behavior

Behavior that is influenced or triggered by external factors such as social pressure, environmental cues, or specific situations.

Value System

A coherent set of beliefs and values that guide the behavior of an individual or group.