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Jane's Donut Co. borrowed $196,000 on January 1, 2018, and signed a two-year note bearing interest at 10%. Interest is payable in full at maturity

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Jane's Donut Co. borrowed $196,000 on January 1, 2018, and signed a two-year note bearing interest at 10%. Interest is payable in full at maturity on January 1, 2020. In connection with this note, Jane's should report interest expense at December 31, 2018, in the amount of Multiple Choice 15:32 $39.200 $19,600. $41,552 e-ev 25 of 39 Next

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