Question: Flip Co. has an 8% note receivable dated June 30, 2014, in the original amount of $150,000. Payments of $25,000 in principal plus accrued interest

Flip Co. has an 8% note receivable dated June 30, 2014, in the original amount of $150,000. Payments of $25,000 in principal plus accrued interest are due annually on July 1. In its June 30, 2017 balance sheet what amount should Flip report as a current asset for interest on the note receivable?

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