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Interest revenue for an 9-month, 12% note receivable originated on May 1, 2020 in the amount of $700,000 is $84,000 for the twelve months ending

Interest revenue for an 9-month, 12% note receivable originated on May 1, 2020 in the amount of $700,000 is $84,000 for the twelve months ending December 31, 2020. (True or False)

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