The Notes Payable balance of $759,320 results from two loans the company has taken. On May 1,2021 , Wuycik took a 5 -year, 5%,$635,320 loan. The interest on this loan is payable annually, on each April 30. Also, on June 1,2022, Wuycik took a 1-year, 8\%, $124,000 construction loan (see A5 below). The interest on the construction loan is payable on the loan's maturity date, May 31, 2023. Note - Wuycik already recorded the interest paid on these loans in 2022. For this adjustment, consider any accrued interest on the loans at the December 31, 2022 reporting date.)