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On August 1, 2013, Noll Corporation borrowed $200,000 from BEST bank by signing a 6%, 9-month note payable which has a due date of April
On August 1, 2013, Noll Corporation borrowed $200,000 from BEST bank by signing a 6%, 9-month note payable which has a due date of April 30, 2014. Nolls 2014 interest expense on this note is:
A) $12,000
B) $7,000
C) $5,334
D) $4,000
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