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Rosewood Company made a loan of $12,800 to one of the company's employees on April...

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Accounting

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Rosewood Company made a loan of $12,800 to one of the company's employees on April 1, Year 1. The one-year note carried a 6% rate of interest. The amount of interest revenue that Rosewood would report during the years ending December 31, Year 1 and Year 2, respectively, would be: Multiple Choice $768 and $0 $0 and $768

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