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On May 1,2012,Mink,Inc

question 1

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On May 1,2012,Mink,Inc.borrowed $10,000 by issuing a 12%,3-month note and another $10,000 by issuing a 12%,6-month note.Interest expense for the month ended May 31,2012 will be ________.


Definitions:

Adaptable

Capable of being adjusted to new conditions or environments.

Small Amounts

Minimal quantities or volumes of a substance or entity, often insufficient to have a significant impact.

Crops

Cultivated plants or agricultural produce, such as grains, vegetables, or fruits, grown for food, fuel, feed, or fiber.

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