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On October 1, 2022, Donna Equipment signed a one-year, 9% interest-bearing note payable for $56,000. If Donna Equipment maintains its books on a calendar year

On October 1, 2022, Donna Equipment signed a one-year, 9% interest-bearing note payable for $56,000. If Donna Equipment maintains its books on a calendar year basis, how much interest expense should be reported in the 2023 income statement?

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$1,260.

$3,780.

$2,520.

$5,040.

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