Natalie is thinking of repaying all amounts outstanding to her grandmother. Recall that Cookic Creations borrowed $2,000 on November 16, 2019, from Natalle's grandmother. Interest on the note is 6% per year, and the note plus interest was to be repaid in 24 months. Recall that a monthly adjusting journal entry was prepared for the months of November 2019 (1/2 month), December 2019. and January 2020. (a) Calculate the interest payable that was accrued and recorded to July 31, 2020, assuming monthly adjusting entries were made. Interest payable Prepare the journal entry at August 31, 2020, to record one month's accrued interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)