3. The company borrowed $600,000 by signing a five-year 5% note on January 1st this year. The company will make principal payments of $120,000 each year plus accrued interest. On December 31st of this year the company pays $120,000 principal payment plus $30,000 in accrued interest. After making the payment the accountant prepares their balance sheet, at what amount will they report as a current liability for this borrowing? 1. Sean's salary is $4,000 every two weeks. His employer provides health insurance which costs the employer $500 and Sean $50 every pay. Sean is in the 25% income tax bracket and is subject to FICA taxes (7.65\%). How much will Sear receive from his employer for his first paycheck? 2. The corporation borrowed $100,000 at 6% interest for 9 months from Wells Fargo on September 1st, this year. They will pay off the borrowing and all interest when the note matures in 9 months. When the accountant prepares their December 31st balance sheet, at what amount will they report for interest payable? \$