Bank X entered into a loan agreement with business Y on March 1st, 2922. The...
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Bank X entered into a loan agreement with business Y on March 1st, 2922. The note receivable has a face value of 1200000 and an intrerest rate of 6%, The note called for 5 fixed payments of 284876 that will be received on March 1st of each year, beginning in 2023. After the final payment is received, the note receivable balance will be zero.
What is the interest receivable balance on December 31, 2022?
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