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On June 1, 2014, Oakcrest Company signed a three-year note payable with 9 percent interest. Interest is due on June 1 of each year beginning

On June 1, 2014, Oakcrest Company signed a three-year note payable with 9 percent interest. Interest is due on June 1 of each year beginning in 2015. What amount of interest earned should be reported on the income statement for the year ended December 31, 2014?S

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