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Kanns Company signed a $3,000 ninety day note payable on November 1, 2019 that bears interest at an annual rate of 7%. Kanns Company is

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Kanns Company signed a $3,000 ninety day note payable on November 1, 2019 that bears interest at an annual rate of 7%. Kanns Company is preparing an income statement for the year ending December 31, 2019. Total interest expense included in the 2019 income statement for this specific note would be $17.50 $35.00 $52.50 210.00

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