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n July 8 , Jones Inc. issued an $ 6 4 , 4 0 0 , 1 1 % , 1 2 0 - day

n July 8, Jones Inc. issued an $64,400,11%,120-day note payable to Miller Company. Assume that the fiscal year of Jones ends uly 31. Using a 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? When required, round your answer to the nearest dollar.
a. $1,359
b. $453
c. $7,084
d. $906
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