3. Phipps Company borrowed $150,000 cash on October 1, 2016, and signed a nine-month, 6% interest-bearing note payable with interest payable at maturity. Assuming that adjusting entries have not been made during the year, the amount of accrued interest payable to be reported on the December 31, 2016 balance sheet is? Mission Corp. borrowed $125,000 cash on April 1, 2016, and signed a one-year 8%, interest- bearing note payable. The interest and principal are both due on March 31, 2017 What is the amount to be paid to the bank on March 31, 2017 for interest and principal (combined)