On September 30, 2015, Tucker, Co. borrowed $15,000 on a one-year, 7% note payable. What amounts would

Question:

On September 30, 2015, Tucker, Co. borrowed $15,000 on a one-year, 7% note payable. What amounts would Tucker, Co. report for the note payable and the related interest payable on its statement of financial position at December 31, 2015, and on its income statement for the year ended December 31, 2015?