Your Company loaned of $21,000 to one of the company's employees on May 1, 2020. The one-year note carried a 5% rate of

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answerhappygod
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Your Company loaned of $21,000 to one of the company's employees on May 1, 2020. The one-year note carried a 5% rate of

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Your Company loaned of $21,000 to one of the company's employees
on May 1, 2020. The one-year note carried a 5% rate of interest.
Payment of interest and principal are to be made at maturity on
April 30, 2021. How much interest would you record in the 2020
financials?
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