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How much interest revenue was recorded

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Problem - On December 1, 2020, the Facts Company accepted an $8,000 note in settlement of an overdue accounts receivable. The note bears 8% interest for 3 months. The Facts Company has a year end of December 31 and appropriately accrued interest revenue at that time. How much Interest Revenue was recorded upon collecting the note on March 1, 2021?

Reference no: EM132898204

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