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Wahoo Company has the following transactions related to notes receivable during the last month of the fiscal year. Dec 1Loaned $16,000 cash to Scott Co.

Wahoo Company has the following transactions related to notes receivable during the last month of the fiscal year.

Dec 1Loaned $16,000 cash to Scott Co. on a 1-year, 6% note.Dec 16Sold goods to Stadium Co., receiving a $4,800, 60-day, 7% note.Dec 31Accrued interest revenue on all notes receivable.

What is the amount of interest revenue accrued at December 31? (Assume 360 days in one year to simplify computations.)

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