g. Calculate the interest owed on the note payable. Assume the note was issued on January 1. (Click the icon to view the T-account balances from Requirement 3.) Date Accounts Debit Credit Adj (9) Revenue Bal 240,000 Bal 1,890,000 Bal 527,096 1,500 526,520 2,075 (2) Bal 240,000 Bal 1,890,000 Bal. Petty Cash Interest Payable Interest Revenue 250 7,500 Bal. 1,500 (2) 9,000 Bal. Note Payable Accounts Receivable 300,000 Bal Cost of Goods Sold 1,012,000 240.000 | 300,000 Bal Bal. 240,000 Bal 1,012,000 Allowance for Bad Debts Common Stock Franchise Fee Expense 94,500 540,000 Bal. OBN 540,000 Bal. Bal 94,500 Merchandise Inventory Retained Earnings Salaries Expense 120,000 Bal. 48.000 48.000 120,000 Dividends Office Supplies 22.000 Utilities Expense 13,500 1,344 22.000 Bal1 344 13.500 Prepaid Insurance Insurance Expense Interest Recalvable Supplies Expansa Notes Receivable 220,000 Bal. Bal 220,000 Land Bank Expense 2,075 2,075 Bal. 110,000 Bal Bal. 110,000 Credit Card Expense 1,000 Building 400,000 Bal. 1,000 400,000 Depr. Expense-Building Accum. Depr.-Building O Bal. Depr. Expense-Store Fixtures Store Fixtures Bal 60,000 Depr. Expense-Office Equipment Bal. 60.000 Accum. Depr.-Store Fixtures Amortization Expense-Franchise O Bal Office Equipment Bal 50,000 Interest Expense ROL 50,000 Accum. Depr.Office Equipment Cash Short and Over Bar Franchise 54,000 Bal. 54,000