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Johnson, Inc. paid/collected during 2017 the following items:
Insurance premiums paid $25,800
insurance collected. $62,800
salaries paid. 260,400
the following balances have been excerpted from Johnson's balance sheets:
December 31, 2017 December 31, 2016
prepaid insurance. 2,400 $3,000
interest receivable. 7,400. 5,800
salaries and wages payable. 24,600. 21,200
What is the interest revenue on the income statement for 2017 ?
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