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Laver Company purchased equipment on April 1, 2020 for $50,000 and signed a 6%, 1 year note on the purchase date. Interest and principal will

Laver Company purchased equipment on April 1, 2020 for $50,000 and signed a 6%, 1 year note on the purchase date. Interest and principal will be paid on March 31, 2021. What amount of interest expense will Laver report on its 2020 income statement for the year ended December 31, 2020?

A. $3,000

B. $750

C. $0

D. $2,250

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