(L03) Jensen loaned his brother Jackson \(\( \$ \) 60,000\) for college and charged him an annual interest rate of \(4 %\), or \(\( \$ \) 200\) per month. Jackson paid Jensen \(\( \$ \) 800\) on December 25 of Year 1 for the first 4 months of interest in Year 2.

Should Jensen report the interest as income in Year 1 or Year 2?