1) On November 1, Bahama Cruise Lines borrows $3.5 million and issues a six month, 7.5% note payable. Interest is payable at maturity.

Record the issuance of the note and the appropriate adjustment for interest expense at December 31, the end of the reporting period. (Enter your answers in dollars not in millions. Do not round intermediate calculations. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.)

Date General Journal Debit Credit Nov. 1 (Click to select) Interest expense Sales revenue Accounts payable Cash Notes payable Accounts receivable Notes receivable Interest payable (Click to select) Notes payable Interest expense Interest payable Sales revenue Cash Accounts payable Notes receivable Accounts receivable Dec. 31 (Click to select) Notes receivable Notes payable Interest expense Sales revenue Interest payable Accounts payable Cash Accounts receivable (Click to select) Interest expense Notes payable Cash Accounts payable Notes receivable Accounts receivable Sales revenue Interest payable

2) On November 1, Bahama National Bank lends $3.5 million and accepts a six month, 6.0% note receivable. Interest is due at maturity.

Record the acceptance of the note and the appropriate adjustment for interest revenue at December 31, the end of the reporting period. (Enter your answers in dollars not in millions. Do not round intermediate calculations. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.)

Date General Journal Debit Credit Nov. 1 (Click to select) Cash Interest payable Notes payable Interest receivable Sales revenue Interest revenue Notes receivable Interest expense (Click to select) Cash Notes payable Interest revenue Interest expense Notes receivable Sales revenue Interest payable Interest receivable Dec. 31 (Click to select) Notes receivable Interest payable Cash Notes payable Interest revenue Sales revenue Interest receivable Interest expense (Click to select) Notes payable Interest expense Cash Notes receivable Sales revenue Interest revenue Interest payable Interest receivable

3 ) On July 1, Alaskan Adventures issues a $500,000, eight-month, 5.0% note. Interest is payable at maturity.

What is the amount of interest expense that the company would record in a year-end adjustment on December 31? (Do not round intermediate calculations. Omit the "$" sign in your response.)

Interest expense $