The following information pertains to the next two questions. On April 1, 2019, Green Corporation...
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Accounting
The following information pertains to the next two questions. On April 1, 2019, Green Corporation issued a $10,000 note payable to Blue Company. The note had a 4 percent interest rate and was to be repaid, with interest, on April 1, 2020. .
1. The total amount of interest receivable that Blue Company recorded on the balance sheet at December 31, 2019, would be a. $0. b. $200 c. $300 d. $400.
2. Assuming no other interest-bearing transactions, the total amount of interest revenue that Blue Company recorded in 2020 would be a. $ 0. b. $ 100. c. $ 300. d. $ 400.
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