On October 1,2019,Springfield Company Made a Loan to One of Its

question 51

Multiple Choice

On October 1,2019,Springfield Company made a loan to one of its customers.The customer signed a 6-month note for $130,000 at 12%.How much interest revenue did the company record in 2020 for this note? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar.)

• A) $5200
• B) $2600
• C) $3900
• D) $7800

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Definitions:

Reflective Decision Making

A process involving thoughtful consideration of various options and consequences before making a decision.

High Quality

A characteristic of something that meets or exceeds established standards of excellence or merit.

Evolutionarily Advantageous

Traits or behaviors that increase an organism's chances of survival and reproduction in a particular environment.