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On Septembert year t West Company borrowed $58,000 from Valley Bank. West agreed to pay interest annually at the rate of 6% per ear The

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On Septembert year t West Company borrowed $58,000 from Valley Bank. West agreed to pay interest annually at the rate of 6% per ear The note Issued by West carried an 18-month term. West Company has a calendar year-end What is the amount of interest expens t will be reported on West's income statement for Year 1

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