On May 1,2018 (Maturity Date),the Note Is Collected in Full

question 59

Multiple Choice

On May 1,2018 (maturity date) ,the note is collected in full by Salem Corporation.Assuming a fiscal year-end of December 31,Salem recognizes which of the following in its income statement for 2018 with regard to this note?

• A)$927,000 sales revenue.
• B)$27,000 interest revenue.
• C)$18,000 interest revenue.
• D)$9,000 interest revenue.

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Definitions:

Sustainable Value

The long-term value created by a company that not only encompasses financial performance but also includes social and environmental considerations.

Market Size

The total volume or value of sales that a particular market achieves or can achieve within a specific time frame.

Significant Problem

An issue or challenge of considerable importance or magnitude that requires attention and resolution.

Significant Want

A strong desire or need that is considered important or of great consequence.