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  3. on december 31,2020 , mirage co. provides repair s

On December 31,2020 , Mirage Co. provides repair services to Mr. Incredible Inc. in exchange...

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Accounting

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On December 31,2020 , Mirage Co. provides repair services to Mr. Incredible Inc. in exchange for a 7 -year note receivable bearing a stated annual interest rate of 8% and having a maturity value of $100,000. Interest is paid semi-annually on June 30th and December 31st. Mr. Incredible's normal borrowing rate is 6%. Round your answer to the nearest dollar. How much service revenue does Mirage recognize on December 31, 2020

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