i Transactions Ellie's Bar and Grill completed the following note-payable transactions: (Click the icon to view the transactions.) Answer these questions for Ellie's Bar and Grill: 1. How much interest expense must be accrued at December 31, 2017? 2. Determine the amount of Ellie's final payment on July 31, 2018. 3. How much interest expense will Ellie's report for 2017 and for 2018? 1 2017 Aug Dec 31 2018 Aug Purchased kitchen equipment costing $70,000 by issuing a one-year, 7% note. Accrued interest on the note payable. 1. How much interest expense must be accrued at December 31, 2017? (Round your answer to the nearest whole number.) The amount of interest expense to be accrued at December 31, 2017 is $ 1 Paid the note payable at maturity. 2. Determine the amount of Ellie's final payment on July 31, 2018. (Round your answer to the nearest whole number.) Print Done The amount of Ellie's final payment on July 31, 2018 is $ 3. How much interest expense will Ellie's report for 2017 and for 2018? (Round your answers to the nearest whole number.) Interest expense for 2017: $ Interest expense for 2018: $