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Assume that on July 1, 2021. Togo's Sandwiches issues a $1.88 million, one-year note, Interest is payable at maturity. Determine the amount of interest expense

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Assume that on July 1, 2021. Togo's Sandwiches issues a $1.88 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.) Interest Expense $ 75.200 1. 2 Interest Rate Fiscal Year End 8/% December 31 10% September 30 4/% October 31 71% January 31 3 4

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