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Your Corporation lent $35,000 to the West Co. on June 1,2021 . The repayment of...

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Accounting

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Your Corporation lent $35,000 to the West Co. on June 1,2021 . The repayment of the loan and the interest is due on June 1, 2022. The interest rate is 7%. How much interest would you record in the 2021 financials? \begin{tabular}{c} $1,429 \\ \hline$1,225 \\ \hline$2,450 \\ \hline$1,021 \\ \hline$204 \end{tabular}

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