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How much interest revenue will middleton corp report

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Question 1: On September 1, 2021, Middleton Corp. lends cash and accepts a $8,000 note receivable that offers 15% interest and is due in six months. How much interest revenue will Middleton Corp. report during 2022?

Question 2: On September 1, 2021, Middleton Corp. lends cash and accepts a $3,400 note receivable that offers 9% interest and is due in six months. How much interest revenue will Middleton Corp. report during 2021?

Reference no: EM132487943

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