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On October 1, Black Company receives a 10% interest-bearing note from Reese Company to settle a $22,200 account receivable. The note is due in six

On October 1, Black Company receives a 10% interest-bearing note from Reese Company to settle a $22,200 account receivable. The note is due in six months. At December 31, Black should record interest revenue of a. $555 b. $565 c. $562 d. $552

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