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Assume that on July 1, 2021, Togo's Sandwiches issues a $1.02 million, one-year note. Interest is payable at maturity. Determine the amount of interest

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Assume that on July 1, 2021, Togo's Sandwiches issues a $1.02 million, one-year note. Interest is payable at maturity. Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions: (Enter your answers in dollars, not in millions. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Fiscal Year- Interest Interest Rate End Expense 1. 8% December 31 2 9 % September 30 3. 6% October 31 4. 8 % January 31

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