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Question 6 2 pts Crane Company borrowed $500,000 on May 1. The note requires interest at 7% and principal to be paid in one year.

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Question 6 2 pts Crane Company borrowed $500,000 on May 1. The note requires interest at 7% and principal to be paid in one year. How much interest expense is recognized for the period from May 1 to December 31? $0 $35,000 $17,500 $23,333

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