Question: CH 7, 8 & 9) i Saved Help Save & Exit UD Generic Company has a December 31st year-end. On August 1st, Generic sold merchandise

CH 7, 8 & 9) i Saved Help Save & Exit UD Generic Company has a December 31st year-end. On August 1st, Generic sold merchandise to a customer and agreed to accept a 3- month, $57,000, 12% interest-bearing note in payment. On August 1st, the prevailing rate of interest for similar transactions was 12%. What is the amount of interest revenue Generic will recognize when the note is collected upon maturity? Multiple Choice 12 O $5,130 O $0 O $1.710

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