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Camp Tadmor obtains a $125,000, 6%, five-year loan for a new camp bus on January 1, 2024. What amount will be recorded for interest expense

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Camp Tadmor obtains a $125,000, 6%, five-year loan for a new camp bus on January 1, 2024. What amount will be recorded for interest expense for the first month's payment on January 31, 2024?

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