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The GRF Company rendered services on 1/1/16 and accepted a $10,000, 6%, 5-year note receivable with interest to be paid annually on December 31 through

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The GRF Company rendered services on 1/1/16 and accepted a $10,000, 6%, 5-year note receivable with interest to be paid annually on December 31 through 12/31/20. The principal will be paid in full on 12/31/20. GRF's imputed interest rate is 12% and the effective amortization method is used. Total'approximate Interest Revenue over the life of this note will be: Select one: a $2,763 Ob $2,163 C$8,163 d. $5,163 e: $5,674

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