Summer's Bar and Grill completed the below note-payable transactions. View the transactions. Read the requirement. 1. How much interest expense must be accrued as of December 31, 20X1? (Round your answers to the nearest whole dollar.) X Period of time (months) Accrued interest Notes payable $75000 Interest rate (%) 0.12 + 12 = + 12 = 5 Notes payable Transactions August 1, 20X1: December 31, 20X1: August 1, 20X2: 2. Determine the amount of Summer's final payment on July 31, 20X2. (Round your answers to the nearest whole dollar.) Final payment Notes payable $75000 + ( Interest rate (%) + ( Interest rate (%) 0.12 Question 24 X Question 25 Question 26 3. How much interest expense will Summer's report for 20X1 and for 20X2? (Round your answers to the nearest whole dollar.) Notes payable Interest expense, 20X1 Interest rate (%) 6 Interest rate (%) 0.12 Interest rate (%) Interest rate (%) 6 X X X X Print X Notes payable X Done X X X X X X X Purchased kitchen equipment costing $75,000 by issuing a one-year, 6% note. Accrued interest on the note payable. Paid the note payable at maturity. C 0.12 Interest rate (%) 6 + 12 + + + 12 = 12 = 12 = $3750 - X Interest expense, 20X2 d your answers to the nearest whole dollar.) Accrued interest Yo) + 12 = + 12 = Required ur answers to the nearest whole dollar.) (%) Final payment $3750 Answer these questions for Summer's Bar and Grill: 1. How much interest expense must be accrued as of December 31, 20X1? 2. Determine the amount of Summer's final payment on July 31, 20X2. 3. How much interest expense will Summer's report for 20X1 and for 20X2? Print Done

Summer's Bar and Grill completed the below note-payable transactions. 1. How much interest expense must be accrued as of December 31,201 ? (Round your answers to the nearest whole dollar.) x x +12= Accrued interest * +12= 2. Determine the amount of Summer's final payment on July 31, 20X2. (Round your answers to the nearest whole dollar.) +1+1 Final payment l= 3. How much interest expense will Summer's report for 201 and for 202 ? (Round your answers to the nearest whole dollar.) +12=Interestexpense,201+12=+12=Interestexpense,202+12= Transactions August 1, 20X1: December 31, 20X1: August 1, 20X2: Purchased kitchen equipment costing $75,000 by issuing a one-year, 6% note. Accrued interest on the note payable. Paid the note payable at maturity. \begin{tabular}{|c|c|c|c|} \hline & 4 & 12= & Interest expense, 201 \\ \hlinex & + & 12= & \\ \hlinex & + & 12= & Interest expense, 202 \\ \hlinex & + & 12= & \\ \hline \end{tabular} d your answers to the nearest whole dollar.) +12=Accruedinterest +12= Ir answers to the nearest whole dollar.) 1= Final payment Required Answer these questions for Summer's Bar and Grill: 1. How much interest expense must be accrued as of December 31, 20X1? 2. Determine the amount of Summer's final payment on July 31, 202. 3. How much interest expense will Summer's report for 201 and for 202 ? Question 24 N 3. How much interest expense will Summer's report for 201 and for 202