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The following table includes five separate short-term note payable scenarios. Exercise 15-59 Calculating Accrued Interest Expense L04 Stated Rate Fiscal Year-End Accrued Interest at Fiscal
The following table includes five separate short-term note payable scenarios. Exercise 15-59 Calculating Accrued Interest Expense L04 Stated Rate Fiscal Year-End Accrued Interest at Fiscal Year-End Note Payable Issuance Date Term 1 2 3 4 5 $5,000 note payable September 1, 2020 $5,000 note payable September 30, 2020 $2,000 note payable November 1, 2020 $2,000 note payable November 30, 2020 $10,000 note payable May 31, 2020 6-month 6-month 3-month 3-month 12-month 6% 6% 8% 8% 10% December 31 December 31 December 31 December 31 November 30 Required For each separate scenario, complete the last column in the table by calculating interest expense accrued at the relevant fiscal year-end
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