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On July 8 , Jones Inc. issued an $77,300,6%,120-day note payable to Miller Company. Assume that the fiscal year of Jones ends July 31 .
On July 8 , Jones Inc. issued an $77,300,6%,120-day note payable to Miller Company. Assume that the fiscal year of Jones ends July 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. $888 b. $4,638 c. $592 d. $296
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