On June 1, Davis Inc. issued an $84,700, 10%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using a 360-day year, what is the amount of interest revenue recognized by Garcia in the following year? When required, round your answer to the nearest dollar. Oa. $706 Ob. 12141 Oc. $8,470 Od. $1412

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