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On September 1, 2016, Your Company lent $45,000 to Ace Company. It is a one...

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Accounting

On September 1, 2016, Your Company lent $45,000 to Ace Company. It is a one year loan and bears interest at 2.5%. How much income is accrued for 2016? ENTER YOUR ANSWER WITHOUT DOLLAR SIGNS OR OTHER DISCRIPTIONS.

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