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On November 1,Year 1, Noble co. borrowed $80,000 from South Ban and signed a 12% six month note payable, all due at maturity. The interest

On November 1,Year 1, Noble co. borrowed $80,000 from South Ban and signed a 12% 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? a. 4,800 b. 3,200 c. 9,600 d. 2,400

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