Question: The company borrowed $ 1 2 , 0 0 0 on June 1 , 2 0 2 0 and signed a 6 % note payable

The company borrowed $12,000 on June 1,2020 and signed a 6% note payable due on June 1,2021. The interest expense for the year ended 12/31/2020 is $360.
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