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1. The Wilson Motel borrowed $50,000 two year ago from the Wilmore Savings and Loan. On June 30, 20X6, the first non-interest payment is made

1. The Wilson Motel borrowed $50,000 two year ago from the Wilmore Savings and

Loan. On June 30, 20X6, the first non-interest payment is made to Wilmore of $10,000.

The funds were borrowed at an interest rate of 10%.

what is the interest expense?

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