A $10,000, 90-day, 12% note payable was issued on November1, 2019. What is the amount of interest
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Question:
A $10,000, 90-day, 12% note payable was issued on November1, 2019.
What is the amount of interest expense recorded in2020? Round to the nearest cent as needed.
(Choose the right one)
A.$193.97
B.$98.63
C.$120.00
D.$101.92
Expert Answer:
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