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Slack Inc. borrowed $400,000 on April 1. The note requires interest at 12% and principal...

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Accounting

Slack Inc. borrowed $400,000 on April 1. The note requires interest at 12% and principal to be paid in one year. How much interest is recognized for the period from April 1 to December 31? a. $0. b. $48,000. c. $32,000. d. $36,000.

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