On June 1, Davis Inc. issued an $68,700, 8%, 120-day note payable to Garcia Company Assume that the fiscal year of Garcia ends June 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Garcia in the following year? When required, round your answer to the nearest dollar. a.$916 b.$1,389 c.$5,496 d.$458

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