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For each of the following notes receivables held by Christensen Company determine the interest revenue to be reported on the income statements for the year

For each of the following notes receivables held by Christensen Company determine the interest revenue to be reported on the income statements for the year ended December 31. Use 360 days in your computations. Round answers to nearest whole dollar. If an amount is zero, enter "0".

Date

Face

Rate

Term

Aug. 8 $45,000 7% 45 days
Oct. 7 $62,000 5% 60 days
Jan. 6 $28,000 4% 120 days
Nov. 12 $43,000 6% 60 days

Date

Interest Revenue

Aug. 8 $
Oct. 7 $
Jan. 6 $
Nov. 12 $

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