answer 25 & 26

Question 25 1 pts Olympic Equipment borrowed $300,000 on November 1 The note matures in one year and the interest rate is 6%. What amount of interest expense will be accrued on December 31? O 59.000 O $3,000 O $18,000 0 $1,500 Question 26 1 pts Kennedy Company neglected to accrue interest income of $3,000 on its year-end trial balance. This results in aln) overstatement of shareholders' equity understatement of liabilities understatement of net income overstatement of assets