Question: Janso Co. signed a $150,000 note payable on August 1, 2019. The note had a 3 percent stated rate of interest and a one-year term.

Janso Co. signed a $150,000 note payable on August 1, 2019. The note had a 3 percent stated rate of interest and a one-year term. Interest expense recorded for 2020 was

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