Chapter 08 Homework a Saved 1 Exercise 8-5A Determine interest expense (LO8-2) 2.5 points OS Environmental provides cost-effective solutions for managing regulatory requirements and environmental needs specific to the airline industry. Assume that on July 1 the company issues a one-year note for the amount of $5.2 million. Interest is payable at maturity. Required: Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions: (Enter your answers in dollars, not in millions (i.e. 5 should be entered as 5,000,000).) eBook Interest Expense Hint Interest Rate 10% 2 11% 12% Fiscal Year-End December 31 September 30 October 31 January 31 Print 3. 4. 6% References