At December 31​ year-end, Corporation has note receivable from a customer. Interest of ​% has accrued for months on the note. What will income statement for the year ended December 31 report for this​ situation?

C. interest revenue of $560

Explanation:

Accounting uses the accrual basis for calculation. This means that even though cash has not been received, revenue must still be recognized in the period it was acquired.

The revenue here is;

= 12,000 * 7% * 8/12 months

= $560

This revenue will therefore be recognized in the income statement as interest revenue.

gary will be given more time to file an amended complaint.

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.