Question

y ounglau. Vodule Mee HUMEWORK Score: 0 of 3 pts 35 of 38 (34 completo) HW Score: 88%, 66 of S3-2 (similar to) Question Help Duneside Corporation began 2014 owing notes payable of $3.8 milion. During 2014 Duneside borrowed $2.3 milion on notes payable and paid off $2.2 million of notes payable from prior years. Interest expensef the year was $0.7 million, including $0.3 milion of interest payable accrued at December 31, 2014 Show what Duneslide should report for these facts on the following financial statements (Enter all amounts in millons 1. Income statement for 2014 a. Interest expense 2. Balance sheet as of December 31, 2014 a. Notes payable b. Interest payable 1. Show what Duneside should report for these facts on the income statement Accounts (in millions) a. Interest expense Enter any number in the edit fields and then click Check Answer Check Answer Clear Al 1 part remaining MacBook Pro

Answer 1

	Accounts	(in millions)
1.a	Interest Expense	$0.70
2.a	Notes Payable	$3.90	[$3.80+$2.30-$2.20]
2.b	Interest Payable	$0.30