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1. Perfect Pet Company gave a creditor a 90-day, 6% note payable for $28,000 on December 1, 2019. What amount of interest will be accrued

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1. Perfect Pet Company gave a creditor a 90-day, 6% note payable for $28,000 on December 1, 2019. What amount of interest will be accrued as of December 31, 2019? Where will this amount be reported in the company's financial statements? 2. Calculate the interest accrued for each of the following notes payable owed by Boundas Resorts as of December 31, 2019: Lender Roof Point Second Bank Step Up Date of Note 10/01/19 12/01/19 3/31/19 Principal $90,000 $45,000 $30,000 Coupon Rate 10.0% 8.0% 9.0% Term 6 months 90 days 1 year

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