On June 30, 2024, Chu Industries issued 9-month notes in the amount of $770,000. 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. Note: Round your final answers to the nearest whole dollar amount. Assumption 1 2 3. Interest Rate 10% 7% 13% Fiscal Year-End December 31 August 31 October 31 Interest Expense

On June 30, 2024. Chu Industries issued 9 month notes in the amount of $770,000. 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 ynder each assumption. Note: Round your final answers to the nearest whole dollar amount