Answer:
The interest revenue amounts to $369
Explanation:
The interest revenue for the following is computed as follows:
Interest revenue = Note receivable × Percentage × Months / Total number of months
where
Note receivable amounts to $4,100
Percentage is 18%
Months is 6
Total number of months 12
Putting the values above:
Interest revenue = $4,100 × 18% × 6/12
Interest revenue = $738 × 6/12
Interest revenue = $369
Therefore, the amount of $369, is the interest revenue which Miter Corp will report during the year 2021
