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How much net income was on income statement

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Question - A $48,000 loan was made to company x in april of year 1. X carried a 1 year term and 6% annual interest rate. X earned cash revenue of 1,140 in yr 1 and 1,500 in yr 2. With no other transactions, how much NET INCOME was on yr 2 income statement?

Reference no: EM132498181

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