On July 1, 2021, Ross-Livermore Industries issued nine-month notes in the amount of $1,200 million. Interest is payable at maturity.

Required:

Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions: (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

Fiscal Year End:	Principal (million)	x	Interest Rate		x	Time	=	Interest Expense
December 31, 2021	$1,200	x	11	%	x		=		million
September 30, 2021	$1,200	x	8	%	x		=		million
October 31, 2021	$1,200	x	7	%	x		=		million
January 31, 2022	$1,200	x	4	%	x		=		million