Record the following LO 6 note receivable transactions in the journal of Mediterranean Services. How much interest revenue did Mediterranean earn this year? Use a 365-day year for interest computations, and round interest amounts to the nearest dollar. Mediterranean Services has a December 31 fiscal year-end Loaned $21,000 cash to Brandy Shields on a one-year, 10 % note. Performed service for Lawn Pro, receiving a 90-day, 9 % note for $5,000. Received a $4,000, six-month, 11 % note on account from Peabody Company Accrued interest revenue for the year. Oct Dec 6 16 31
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