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Jack Company loaned $12,000 to Jill Company on September 1, Year 1 for a one year term. Interest was set at 5% per year with

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Jack Company loaned $12,000 to Jill Company on September 1, Year 1 for a one year term. Interest was set at 5% per year with interest payable at maturity. On December 31, Year 1, Jack would recognize accrued interest revenue amounting to Click the answer you think is right. $150 $600. $400. $200

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