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The Southwest Clothing Company borrowed a sum of cash on October 1, 2016 and signed a note payable. The annual interest rate was 12% and the company's year Income Statement (accounting period ending December 31) reported interest expense of 1.260 € related to that note. What was the amount borrowed?
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The Southwest Clothing Company borrowed a sum of cash on October 1, 2016 and signed a note payable....
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