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Question 24 2pts On September 1, 2019, Coffee Inc. purchased new equipment conting $16,000 with a 9-month. 3%, note payable Price interest are due at

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Question 24 2pts On September 1, 2019, Coffee Inc. purchased new equipment conting $16,000 with a 9-month. 3%, note payable Price interest are due at the time the note matures on June 1, 2020. Assume Coffee Inc. has a December 31 year-end What is the amount of interest expense to be recognized in 2020

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