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What is the amount of interest expense recorded

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Question - A $10,000, 90-day, 12% note payable was issued on November 1, 2019.

What is the amount of interest expense recorded in 2020? Round to the nearest cent as needed.

A. $193.97

B. $98.63

C. $120.00

D. $101.92

Reference no: EM132614089

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