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Explain how you got the answers to #7 and #9, step by step, for a greater understanding, please! Thanks! Question 7 (1 point) Bd On

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Explain how you got the answers to #7 and #9, step by step, for a greater understanding, please! Thanks!

Question 7 (1 point) Bd On December 1, 20X1, Acme Corporation purchases $15,000 of equipment by issuing a 30-day, 10% note payable. The amount of accrued interest on December 31, 20X1, is: IS: 1) $125 2) $250 3) $1.250 4) $1,500

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