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Homework answers / question archive / On December 1, 2018, Davenport Company sold merchandise to a customer for $38,000

On December 1, 2018, Davenport Company sold merchandise to a customer for $38,000

Accounting

On December 1, 2018, Davenport Company sold merchandise to a customer for $38,000. In payment for the merchandise, the customer signed a 9% note requiring the payment of interest and principal on March 1, 2019.

 

How much interest revenue will the company recognize during 2018 and 2019?

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