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On January 1, 2020, Woody Co. received a 11%, four-year note from a customer. The...

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Accounting

On January 1, 2020, Woody Co. received a 11%, four-year note from a customer. The interest on the note is paid every June 30 and December 31. The note has a face value of 5,000,000. The effective rate applicable on the note is 9%.How much is the total interest income in 2021?

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