Use the following to answer questions 1113 TR Environmental provides cost effective solutions for managing regulatory requirements and environmental needs specific to the HVAC industry. Assume that on July 1 st, the company borrows $500,000 by issuing a one-year note compounding annually. Interest is payable at maturity. 11. $ Determine the amount of interest expense that should be recorded in a year-end adjusting entry assuming a 5.5% interest rate and a fiscal year-end September 30. Chapter 8 Page 8-1 12. Determine the amount of interest expense that should be recorded in a year-end adjusting entry assuming a 4.75\% interest rate and a fiscal year-end December 31. 13. Determine the amount of interest expense that should be recorded in a year-end adjusting entry assuming a 3.3\% interest rate and a fiscal year-end March 31