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14 . A $20, 000, 90- day, 8% note payable was issued on November 1 , 2015 . Using a 360- day year , what

14 . A $20, 000, 90- day, 8% note payable was issued on November 1 , 2015 . Using a 360- day year , what is the amount of interest expense recorded in 2016 ? $800 $133

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