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Best, Incorporated loaned $100,000 for three months on November 1 to one of its customers at the rate of 6%. The principal amount of the

image text in transcribed Best, Incorporated loaned $100,000 for three months on November 1 to one of its customers at the rate of 6%. The principal amount of the loan interest is due on the following February 1. The related adjusting entry was recorded on December 31 . What is the amount of interest revenue that should be included in the entry dated February 1 ? Multiple Choice $0 $2,000 $1,000 $500

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