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On November 1, Year 1, Noble Company borrowed $84,000 from South Bank and signed a 14%, six-month note payable, all due at maturity. The interest

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On November 1, Year 1, Noble Company borrowed $84,000 from South Bank and signed a 14%, six-month note payable, all due at maturity. The interest on this loan is stated separately How much interest expense will Noble recognize on this note in Year 2? Multiple Choice $11760 $2.940 $5,880 $3,920

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