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Jane's Donut Co. borrowed $200,000 on January 1, 2018, and signed a two-year note bearing interest at 13%. Interest is payable in full at maturity

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Jane's Donut Co. borrowed $200,000 on January 1, 2018, and signed a two-year note bearing interest at 13%. 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 00:47:48 Multiple Choice $26,000. $52,000. $55,120

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