For each of the following notes receivables held by Rogers Company determine the interest revenue to be reported on the income statements for 2011 and 2012.Round answers to nearest whole dollar.
Definitions:
Incentives
Motivators or rewards, often used in various contexts to encourage behaviors or actions considered desirable.
Institutional Review Board
A committee that reviews research proposals to ensure ethical standards are met and participants are protected.
IRB
Institutional Review Board, a committee that reviews and approves research involving human participants to ensure ethical standards.
Federal Funds
Monetary reserves transferred between banks to meet minimum reserve requirements or to lend to other banks, often used in the context of the Federal Reserve in the United States.
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