On October 1, 2021, Oberley Corporation loans one of its employees $25,000 and accepts a 12-month, 8% note receivable. Calculate the amount of interest revenue Oberley will recognize in 2021 and 2022.

The correct answer is $500, and $1,500.

Explanation:

According to the scenario, the given data are as follows:

Amount = $25,000

Time period in 2021 = 3 months

Time period in 2022 = 9 months

rate of interest = 8%

So, we can calculate the interest revenue by using following formula:

Interest revenue for 2021 = ($25,000 × 8% ) × 3÷ 12

= $500

Interest revenue for 2022 = ($25,000 × 8% ) × 9÷ 12

= $1,500

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.

answer; property tax payment made in july and december;