On June 30, 2021, Chu Industries issued 9-months notes in the amount of $740000.

On June 30, 2021. Chu Industries issued 9-month notes in the amount of $740,000. Assume that interest is payable at maturity in the following three independent cases Required: Determine the amount of interest expense that should be accrued in a year-end adjusting entry under each assumption (Round your final answers to the nearest whole dollar amount.) Interest Rate Fiscal Year-End Interest Expense 10% 799 December 31 August 31 October 31 13%