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On October 1 , Black Company receives a 4 % interest - bearing note from Reese Company to settle a $ 1 7 , 4

On October 1, Black Company receives a 4% interest-bearing note from Reese Company to settle a $17,400 account receivable. The note is due in 6 months. On December 31, Black should record interest revenue of? a. $174
b. $171
c. $181
d. $184

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