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On September 1, 2020, Pine Company borrows cash by issuing a one-year noninterest-bearing note payable to National Bank in the amount of $61,480. The market rate of the note is 6%. The company amortizes any discount on the note using the straight-line method. On December 31, 2020, Pine Company's annual report date, what amount should Pine Company report as the Discount on Note Payable?Select one:a.$1,230b.$1,480c.$2,320d.$2,030
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