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Windy Company made a loan of $11,600 to one of the companys employees...

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Accounting

Windy Company made a loan of $11,600 to one of the companys employees on Aprit 1. Year 1. The one-year note carried a 6% rate of interest. The amount of interest revenue that Windy would report during the years ending December 31, Year 1 and Year 2. respectively, would be:
$0 and $696
$522 and $174
$172 and $520
$696 and $0
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