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Business, 30.11.2021 18:30 dirttrackr75

On June 1, Parson Assoc. sold equipment to Arleo and agreed to accept a 3-month, $51,000, 12% interest-bearing note in payment at a time when the prevailing rate of interest for similar transactions was 12%. When the note was collected upon maturity, Parson would recognize interest revenue of:

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