3.- On September 1, 2010, Port Co. issued a note payable to Natal Bank in the amount of $600,000, bearing interest at 12%, and payable in three equal annual principal payments of $200,000. On this date, Natal bank's prime rate was 11%. The first payment for interest and principal was made on September 1, 2011. At December 31, 2011, Port should record accrued interest payable of _______

4.- T Co. pays all salaried employees on a biweekly basis. Overtime pay, however, is paid in the next biweekly period. T accrues salaries expense only at its December 31 year end. Data relating to salaries earned in December 2010 are as follows:

Last payroll was paid on 12/26/10, for the 2-week period ended 12/26/10.

Overtime pay earned in the 2-week period ended 12/26/10 was $25,000.

Remaining work days in 2010 were December 29, 30, 31, on which days there was no overtime.

The recurring biweekly salaries total $90,000.

Assuming a five-day work week, Thomas should record a liability at December 31, 2010 for accrued salaries of________

Petr J, M.D., keeps his accounting records on the cash basis. During 2011, Dr. Petr collected $360,000 from his patients. At December 31, 2010, Dr. Petr had accounts receivable of $50,000. At December 31, 2011, Dr. Petr had accounts receivable of $70,000 and unearned revenue of $10,000. On the accrual basis, how much was Dr. Petr patient service revenue for 2011?