On september 1 2007 star corp issued a note payable to

Reference no: EM13600825

On September 1, 2007, Star Corp, issued a note payable to Federal Bank in the amount of $450,000. The note had an interest rate of 12% and called three equal annual principal payments of $150,000. The first payment for interest and principal was made on Septemner 1, 2008. At December 31,2008, what amount should Star record accrued interest payable?

Reference no: EM13600825

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