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Jane's Donut Co. borrowed $200,000 on January 1, 2018, and signed a two-year note bearing interest at 9%. Interest is payable in full at maturity

Jane's Donut Co. borrowed $200,000 on January 1, 2018, and signed a two-year note bearing interest at 9%. 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 $38,160. $18,000. $0. $36,000.

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