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What is the amount of interest payable at december

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Reference no: EM132475315

Bill Darby started Darby Company on January 1, 2016. The company experienced the following events during its first year of operation:

1.Earned $1,900 of cash revenue.

2.Borrowed $2,000 cash from the bank.

3.Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1, 2016, had a one-year term and a 9 percent annual interest rate.

Question 1: What is the amount of interest payable at December 31, 2016? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)

Reference no: EM132475315

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