Wrigley Company issued the following notes during 2019. Find the interest due on each of the notes, using the interest formula method. Show all calculations.
1. A $15,000 note at 9 percent for 180 days, issued February 15.
2. A $14,000 note at 12 percent for four months, issued October 3.
3. A $20,000 note at 10 percent for 180 days, issued October 18.
Analyze: What is the balance in Notes Payable on December 31, 2019, assuming that all notes were paid when due?