Question: On April 1 st , 2 0 2 1 , One Night Taco Stand signed a note payable for $ 1 0 , 0 0

On April 1st,2021, One Night Taco Stand signed a note payable for $10,000. The note carried a 6% annual interest rate and both interest and principal were due February 1st 2022. What was the interest payable the company reported on its balance sheet dated 12/31/2021?

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