Included in Allen Corp.'s balance sheet at June 30, 2021 is a 10%, $4,000,000 note payable. The note is dated October 1, 2019 and is payable in three equal annual payments of $2,000,000 plus interest. The first interest and principal payment was made on October 1, 2020. In Allen's June 30, 2021 balance sheet, what amount should be reported as accrued interest payable for this note

What is credit and debit in accounting

Which of the following is not a characteristic of enterprise applications that cause challenges in implementation? a. they introduce "switching costs," making the firm dependent on the vendor. b. they cause integration difficulties as every vendor uses different data and processes. c. they are complex and time consuming to implement. d. they support "best practices" for each business process and function. e. they require sweeping changes to business processes to work with the software.

Three pounds of material a are required for each unit produced. the company has a policy of maintaining a stock of material a on hand at the end of each quarter equal to 30% of the next quarter's production needs for material a. a total of 35,000 pounds of material a are on hand to start the year. budgeted purchases of material a for the second quarter would be: