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26. Ferguson Company obtained a $115,000 line of credit from the Metropolitan Bank on January 1 2014. The company agreed to accept a variable interest

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26. Ferguson Company obtained a $115,000 line of credit from the Metropolitan Bank on January 1 2014. The company agreed to accept a variable interest rate that was set of above the bank's prime lending rate. The bank's prime rate of interest and the amounts borrowed or repaid during the first three months of 2014 are shown in the following table. Assume that Ferguson borrows or repays on the frst day of each month, Borrowing is shown as a positive amount and repayments are shown as negative amounts indicated by parentheses. The amount of interest expense recognized in March, rounded to the nearest dolls would be O $280 $210 $233 $187 MacBook Air 8 TRIFGHJK

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