Can you show how you dd the math.

On July 8, Jones Inc. issued an $61,800, 9%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends on July 31. Using the 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? Round your answer to the nearest whole dollar.

a.$773

b.$927

c.$464

d.$355

On June 1, Davis Inc. issued an $88,800, 6%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using the 360-day year, what is the amount of interest revenue (rounded) recognized by Garcia in the following year?

a.$444

b.$5,328

c.$1,332

d.$888