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Posted on Aug 12, 2024

DeKalb Company made a loan of $ 8 , 4 0 0 to one of the company's employees on April 1 , Year 1 .

DeKalb Company made a loan of $

8, 400

to one of the company's employees on April

1,

Year

1 .

The one

-

year note carried a

5 %

rate of interest. The amount of interest revenue that DeKalb would report in Year

1

and Year

2,

respectively, would be:

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