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b. A $900,000 note payable requires 12% annual interest, or $9,000 to be paid at the 20 th day of cach month. The interest was

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b. A $900,000 note payable requires 12% annual interest, or $9,000 to be paid at the 20 th day of cach month. The interest was last paid on April 20 and the next payment is due on May 20. As of April 30, $3,000 of interest expense has accrued

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