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On July 8 , Jones Inc. issued an $ 8 3 , 9 0 0 , 9 % , 1 2 0 - day note

On July 8, Jones Inc. issued an $83,900,9%,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. $964b. $7,551c. $1,446d. $482

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