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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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