Calculate the total amount of interest expense reported

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On August 1, 2019, Jason Company borrowed $66,000 from a bank on a 12%, 7-month note payable. On June 1, 2020, Jason Company borrowed $36,000 from a bank on a 15%, 10-month note payable.

Question 1: Calculate the total amount of interest expense reported by Jason Company in its 2020 income statement related to these two loans.

Reference no: EM132544467

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