OS Environmental provides cost-effective solutions for managing regulatory requirements and environmental needs specific to the airline industry. Assume that on July 1 the company issues a one-year note for the amount of $4.5 million. Interest is payable at Determine the amount of interest expense that be recorded in a year-end adjusting entry under each of the following independent assumptions: (Enter should your answers in dollars, not in millions (i.e. $ should be entered as 5,00,000).)