what is the number? the 480 is incorect ...

Consider the following note payable transactions of Crandell Video Productions. (Click the icon to view the transactions.) Journalize the transactions for the company. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 1, 2017: Purchased equipment costing $24,000 by issuing a one-year, 6% note payable. Date Accounts and Explanation Debit Credit 2017 Mar. 1 24,000 Equipment Notes Payable 24,000 Purchased equipment in exchange for one-year, 6% note. Debit Credit Dec 31, 2017: Accrued interest on the note payable. Date Accounts and Explanation 2017 Dec. 31 Interest Expense Interest Payable 480 480 Choose from any list or enter any number in the input fields and then click Check