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How much interest would be recorded for the year

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Question - Coronado Industries sold $116000 of goods and accepted the customer's $116000 12%, 1-year note in exchange. Assuming 12% approximates the market rate of return, how much interest would be recorded for the year ending December 31 if the sale was made on June 30?

a. $13920.

b. $0.

c. $3480.

d. $6960.

Reference no: EM132556348

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