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What the pita pit should report interest expense at december

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The Pita Pit borrowed $199,000 on November 1, 2021, and signed a six-month note bearing interest at 12%. Principal and interest are payable in full at maturity on May 1, 2022.

Problem 1: In connection with this note, The Pita Pit should report interest expense at December 31, 2021, in the amount of: (Do not round your intermediate calculations.)

Multiple Choice

Option 1: -$23,880.

Option 2: -$0.

Option 3: -$3,980.

Option 4: -$11,940.

Reference no: EM132688984

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