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Universal Travel Incorporated borrowed $495,000 on November 1, 2024, and signed a 12-month note bearing interest at 6%. Interest is payable in full at maturity

Universal Travel Incorporated borrowed $495,000 on November 1, 2024, and signed a 12-month note bearing interest at 6%. Interest is payable in full at maturity on October 31, 2025. In connection with this note, Universal Travel Incorporated should report interest payable at December 31, 2024, in the amount of

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