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On June 1, Xerox sold copy equipment to Adelphia and agreed...

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Accounting

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On June 1, Xerox sold copy equipment to Adelphia and agreed to accept a 3- month, $68,000, 10% interest-bearing note in payment at a time when the prevalling market rate of interest for similar transactions was 10%. When the note was collected upon maturity, Xerox would recognize interest revenue of: Multiple Choice $1700 $3,400 $0 o $5,100 None of these answer choices are correct

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