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What is the amount of interest revenue recognized

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Question - On June 1, Davis Inc. issued an $79,100, 12%, 120-day note payable to Garcia Company Assume that the fiscal year of Garcia ends June 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Garcia in the following year? When required, round your answer to the nearest dollar.

Reference no: EM132546620

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