Life.com issued $12 million of commercial paper on April 1 on a nine-month note. Interest was discounted at issuance at a 15% discount rate. Complete the below table to calculate the effective interest rate Enter your answers in whole dollars. Round "Annual Effective Rate" to 1 decimal place. (i.e., 0.123 should be entered as 12.3).) the commercial paper. (Do not round intermediate calculation. Principal Annual Rate Time Discount Calculation of discount $ 12,000,000 x % x 9-month Conversion Annual Effective Rate rate Factor Discount 0% x % Proceeds On July 1, Orcas Lab issued a $225,000, 10%, 8-month note. Interest is payable at maturity. What is the amount of interest expense that should be recorded in a year-end adjusting entry if the fiscal year-end is (a) December 31? (b) September 30? December 31 September 30