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On October 1, Black Company receives a 8% interest bearing note from Reese Company to settle a $20,200 account receivable. The note is due in

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On October 1, Black Company receives a 8% interest bearing note from Reese Company to settle a $20,200 account receivable. The note is due in six months. At December 31, Black should record interest revenue of the value listed below. Select the correct answer 5404 $414 $411 $401

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