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on june 1, year 2, carolina company collected a $24,000 note receivable that had been...

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Accounting

On June 1, Year 2, Carolina Company collected a $24,000 note receivable that had been issued on June 1, Year 1. The note carried a 6% interest rate. On June 1, Year 2, the company will recognize interest revenue in the amount of $1,440

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