Question: I need the correct answer to this general accounting problem using the standard accounting approach. On July 1, 2021, Orion Tech received $75,000 through promissory

I need the correct answer to this general accounting problem using the standard accounting approach.

On July 1, 2021, Orion Tech received $75,000 through promissory notes maturing in 2024. These notes pay 5% interest annually, and Orion's fiscal year ends on December 31. What amount of interest expense should Orion recognize by the end of the year

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