On September 2017, Shelley borrowed $400,000 from National Bank on a one-year $400,000, 6% note. Which answer has the correct debit entry to accrue for interest for the year ending in 2017? Group of answer choices Interest Expense 24,000 Interest Payable 8,000 Interest Payable 24,000 Interest Expense 8,000

Carmen’s beauty salon has estimated monthly financing requirements for the next six months as follows: january $ 9,000 april $ 9,000 february 3,000 may 10,000 march 4,000 june 5,000 short-term financing will be utilized for the next six months. projected annual interest rates are: january 9 % april 16 % february 10 may 12 march 13 june 12 what long-term interest rate would represent a break-even point between using short-term financing and long-term financing?