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On March 1, 2019 a company borrows $50,000 by signing a two-year note. The note has a 6% annual interest rate and matures on March

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On March 1, 2019 a company borrows $50,000 by signing a two-year note. The note has a 6% annual interest rate and matures on March 1.2021. Interest and principal are paid in cash on the maturity date. What amount of interest expense would the company report in 2021? 3,000

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