Interest payable on balance sheet at December 31, 20Y1 Note: your answer should be formatted as a whole number without currency symbols or punctuation.
Interest payable on balance sheet at December 31, 20Y2 Note: your answer should be formatted as a whole number without currency symbols or punctuation.
Interest expense on income statement for year ended December 31, 20Y1 Note: your answer should be formatted as a whole number without currency symbols or punctuation.
Interest expense on income statement for year ended December 31, 20Y2 Note: your answer should be formatted as a whole number without currency symbols or punctuation.

Burrow Company closes its accounts on December 31 each year. On October 1, 20Y1, the Company borrowed $10,000. The $10,000 principal and 10% annual interest will be repaid on September 30, 20Y2. What would be reported for the interest on this loan? Interest Expense on the Income Statement Interest Payable on the Balance Sheet Dec 31, 20Y1 $ Dec 31, 20Y2 $ 20Y1 2012