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March 6: A long-term note for $60,000 was taken out from the bank. The loan is for two years with an interest rate of 6%

March 6: A long-term note for $60,000 was taken out from the bank. The loan is for two years with an interest rate of 6% repayable at maturity. June 30: Book the interest for the first half of the year on the loan you took out on March 6

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