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On January 1, Portillo, Inc. lends a corporate customer $114,000 at 7% interest. The amount of interest revenue that should be recorded for the quarter

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On January 1, Portillo, Inc. lends a corporate customer $114,000 at 7% interest. The amount of interest revenue that should be recorded for the quarter ending March 31 equals: Multiple Choice What is the annual rate of interest being charged on a 9-month note receivable of $68,000 if the total interest is $4,080? Multiple Choice

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