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On 11/1/20 Spirit borrowed $30,000 at 7% to finance the holiday sales season. The note is for a 9 month term and both principal and

On 11/1/20 Spirit borrowed $30,000 at 7% to finance the holiday sales season. The note is for a 9 month term and both principal and interest are payable at maturity. Interest expense related to this borrowing for the year ending 12/31/20 is?

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