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What amount of interest revenue that recorded for quarter

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Reference no: EM132710865

Problem 1: On January 1, Portillo, Inc. lends a corporate customer $120,000 at 8% interest. The amount of interest revenue that should be recorded for the quarter ending March 31 equals:

Multiple Choice

Option 1: $9,600.

Option 2: $800.

Option 3: $2,400.

Option 4: $3,200.

Reference no: EM132710865

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