Urgent

On March 1, Year 1, ABC Company received $40,000 cash from the issue of a one-year, 6% note. What is the value of Interest Payable on ABC's Year 1 Balance Sheet? $2,400 $400 $0 $2,000 On March 1. Year 1, ABC Company received $40,000 cash from the issue of a two-year, 6% note. What is the value of interest Payable on ABC's Year 2 Balance Sheet? $2,000 $0 $2,400 $400