Question: assuming a 360-day year, when a $16,397 On June 1, Davis Inc. issued an $71,000, 9%, 120-day note payable to Garcia Company Assume that the

assuming a 360-day year, when a $16,397

On June 1, Davis Inc. issued an $71,000, 9%, 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. Oa. $533 Ob. $6,390 Oc $1,615 Od. $1,065

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