Accrued Interest Payable
Compute the interest accrued on each of the following notes payable owed by Galloway, Inc., on December 31:
Use 360 days for calculations and round the nearest dollar.
| Lender | Date of Note | Principal | Interest Rate | (%) | Term |
|---|---|---|---|---|---|
| Barton | December 04 | $17,000 | 12% | 120 days | |
| Lawson | December 13 | 19,000 | 9% | 90 days | |
| Riley | December 19 | 23,000 | 10% | 60 days |
| Lender | Accrued Interest |
|---|---|
| Barton | $ |
| Lawson | |
| Riley |
