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Q11 Gallery Leather located in Maine produces journals and photo albums. On May 1, 2021, Gallery Leather borrowed $250,000 from Midwest One Bank by signing

Q11

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Gallery Leather located in Maine produces journals and photo albums. On May 1, 2021, Gallery Leather borrowed $250,000 from Midwest One Bank by signing a three-year. 6% note payable Interest is due each May 1 How much, if any, should interest expense be debited for on December 31, 2021? Fill in the blank. Omit $ sign. 9 Fill in the blank

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