Question: Answer for only part c needed Current Attempt in Progress James and John borrowed $15,000 on a 7 -month, 4% note from Gem State Bank

Answer for only part c needed

Current Attempt in Progress James and John borrowed $15,000 on a 7 -month, 4% note from Gem State Bank to open their business, Blossom's Coffee House. The money was borrowed on June 1, 2025, and the note matures January 1, 2026. Assuming adjusting entries are made at the end of each month, determine the balance in the Interest Payable account at December 31,2025 . Balance in interest payable account eTextbook and Media List of Accounts

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