On November 30, 2018, Synergy Bank loaned $2,000,000 to Gary Produce, Inc., on a one-year, 9 percent note. Read the requirements. Requirement 1. Compute the interest on the note for the years ended December 31, 2018, and December 31 2019. Round interest calculations to the nearest dollar. Start by determining the formula needed to compute interest. X x = Amount of interest Requirements Now determine interest for the years ended December 31, 2018 and 2019, on the Gary Produce note. Interest for 2018: Interest for 2019: Requirement 2. Which party has a. a note receivable: b. a note payable: c. interest revenue: d. interest expense: Requirement 3. How much in total would GaryProduce, Inc., pay the bank if it pays off the note early on June 30, 2019? Total amount paid would be: 1. Compute the interest on the note for the years ended December 31, 2018, and December 31 2019. Round interest calculations to the nearest dollar. 2. Which party has: a. a note receivable? b. a note payable? c. interest revenue? d. interest expense? 3. How much in total would Gary Produce, Inc., pay the bank if it pays off the note early on June 30, 2019? Print Done