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On October 1, Black Company receives a 4% interest-bearing note from Reese Company to settle a $15,000 account receivable. The note is due in six

On October 1, Black Company receives a 4% interest-bearing note from Reese Company to settle a $15,000 account receivable. The note is due in six months. At December 31, Black should record interest revenue of

a.$157

b.$150

c.$160

d.$147

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