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Part $1$

At December $31$ year$-$end,

CrateCrate

Corporation has

aa

$ $9$ comma $500$$$9,500$

note receivable from a customer. Interest of

$1212\%$

has accrued for

$33$

months on the note. What will

Crate'sCrate's

income statement for the year ended December $31$ report for this$$ situation?

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Part $1$

A$.$

Nothing because the business has not received the cash yet

B$.$

Interest revenue of $ $285$$$285$

C$.$

Note receivable of $ $9$ comma $500$$$9,500$

D$.$

Both b and c