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On May1, 2011 the note is collected in full by Salem Corporation, assuming a fiscal year end of December 31, Salem recognizes which of the

On May1, 2011 the note is collected in full by Salem Corporation, assuming a fiscal year end of December 31, Salem recognizes which of the following in its income statement for 2011 with regard to this note? a. $9,000 interest revenue b. $27,000 interest revenue c. $18,000 interest revenue d. $927,000 sales revenue

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