What amount should be reported as accrued interest payable

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On September 1, 2018, YXY Company issued a note payable in the amount of P1,800,000, bearing interest at 12%, and payable in three equal annual principal payments of P600,000. The first interest and principal payment was made on September 1, 2019. 1. On December 31, 2019, what amount should be reported as accrued interest payable? 2. What is the interest expense that should be recorded by YXZ Company for the year 2019?

Reference no: EM133265007

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