Kieso Company borrowed $730,000 on a 90-day note at 8 percent interest. The money was borrowed for 60 days in 2014 and 30 days in 2015; the note and interest were to be paid upon maturity in 2015. (Assume 360 days in a year.)

How much interest expense, if any, would be reported in 2014 and in 2015?

Interest Expense
2014
2015