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Nirvana Corporation Issued a One-Year, 9%, $400,000 Note on April

Question 212

Multiple Choice

Nirvana Corporation issued a one-year, 9%, $400,000 note on April 30, 2018. Interest expense for the year ended December 31, 2018 was

A) $21,000.
B) $24,000.
C) $27,000.
D) $36,000.

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