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Que ion 21 (4 points) Cintas Company borrowed $40,000 on January 1, 2020 to purchase land. This amount was borrowed from First National Bank and

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Que ion 21 (4 points) Cintas Company borrowed $40,000 on January 1, 2020 to purchase land. This amount was borrowed from First National Bank and it is a 4-year, 5% note. The note requires annual payments on December 31st of each year in the amount of $11,280. Based on this information, how much interest expense will Cintas Company recognize when they prepare the December 31, 2021 journal entry? $11,280 $1,536 $9,280 $9.744 $2,000

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