Rosewood Company made a loan of $7,000 to one of the company's employees on April 1, Year 1. The one-year note carried a 6% rate of interest. The amount of interest revenue that Rosewood would report during the years ending December 31, Year 1 and Year 2, respectively, would be: Multiple Choice $0 and $420. $420 and $0. $105 and $315. $315 and $105