On July 1,2018,Empire Inc

question 124

Multiple Choice

On July 1,2018,Empire Inc.lends $8,000 to a customer and receives a 9% note due in two years.Interest is due in full on July 1,2020,the due date of the note.What is the amount of Interest Revenue that will be reported on Empire's income statement for the year ended December 31,2018?

• A)$1,440
• B)$720
• C)$420
• D)$360

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Definitions:

Schizophrenic Disorder

A severe mental disorder characterized by distortions in thinking, perception, emotions, language, sense of self, and behavior.

Dissociative Disorder

A mental health condition that involves a disconnection and lack of continuity between thoughts, memories, surroundings, actions, and identity.

Anxiety Disorder

A mental health disorder characterized by excessive fear, worry, or dread, leading to impairment in daily functioning.

Phobic Disorder

An anxiety disorder characterized by an extreme and irrational fear of an object, place, or situation that poses little to no actual danger.