On November 1, Year 1. Dixon Corporation issued exist800,000 of its 10-year, 8% term bonds dated October 1, Year The bonds were sold to yield 10%, with total proceeds of exist700,000 plus accrued interest. Interest is paid every April 1 and October 1. What amount should Dixon report for interest payable in its December 31, year 1 balance sheet? exist17, 500 exist16,000 exist11, 667 exist10, 667