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Harveys Corporation borrowed s60,000 from the bank on November 1, 2014. a 6 percent annual rate of interest and matured on The note had on

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Harveys Corporation borrowed s60,000 from the bank on November 1, 2014. a 6 percent annual rate of interest and matured on The note had on the maturity date. April 30, 2015. Interest and principal were paid in cash Required a. What amount of interest expense was paid in cash in 2014? nterest expense paid b. What amount of interest expense was reported on the 2014 income statement? (Do not round intermediate calculations.) Interest expense

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