Question: Addison Corp issued a 6% note payable in the amount of $4.8 million on October 1, 2017. The note is payable in four equal annual

Addison Corp issued a 6% note payable in the amount of $4.8 million on October 1, 2017. The note is payable in four equal annual paymentsof $1.2 million plus interest. The first interest and principal payment was made on October 1, 2018. Addison's fiscal year end is June 30th. On Addison's balance sheetat June 30. 2019, what amount should be reported as interest payable for this note?

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