Frankenstein Enterprises Received Two Notes from Customers for Sales That

question 130

Multiple Choice

Frankenstein Enterprises received two notes from customers for sales that Frankenstein made to them in 2013. The notes included: Note A: Dated 5/31/2013, principal of $120,000 and interest due 3/31/2014.
Note B: Dated 7/1/2013, principal of $200,000 and interest at 8% annually, due on 4/1/2014.
Frankenstein had accrued interest receivable from these notes of $14,400 on its 12/31/2013 balance sheet. What amount of interest revenue would Frankenstein earn on these notes during 2014?

• A)Above $12,000.
• B)Between $7,000 and 10,000.
• C)Less than $5000.
• D)None of the above is correct.

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Intrinsically Motivated

Being driven by internal rewards, such as personal satisfaction or the joy of performing an activity, rather than external pressures or rewards.

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Own Sake

Doing something for its intrinsic value or enjoyment, rather than for an external reward or outcome.