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Notes Receivable Practice The following transactions for Shoebiz Corporation were recorded in the general journal. September 1 , 2 0 2 3 : Received a

Notes Receivable Practice
The following transactions for Shoebiz Corporation were recorded in the general journal.
September 1,2023: Received a 6-month 8% promissory note for $18,000 for a loan made to Canvas Company.
December 31,2023: Made the year-end adjusting journal entry for the accrual of interest.
March 1,2024: Received payment in full for the note and interest.
Calculate the amount of interest that Shoebiz would report in its 2023 income statement.
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