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On June 1, Davis Inc. issued an $73,800, 10%, 120-day note payable to Garcia Company Assume that the fiscal year of Garcia ends June 30.

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On June 1, Davis Inc. issued an $73,800, 10%, 120-day note payable to Garcia Company Assume that the fiscal year of Garcia ends June 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Garcia in the following year? When required, round your answer to the nearest dollar O 57,380 Ob. 51.866 O $1,230 d. 5615

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