On September 1, 2019, a pet store borrows $22,002 from the bank. The loan has an annual interest rate of 12% and is due on August 31, 2020. The store records interest expense on the last day of each month but pays interest only every 6 months (so, once on February 28, 2020, and once when the loan is due on August 31, 2020). The store has a December 31 year end. What amount of Interest Payable should the store report on its December 31, 2019 balance sheet? Pots and Pans Food Fans, Inc, uses the periodic weighted average method of accounting to account for their inventory. During the month of January the following transactions took place. Date Transaction Units Cost per Unit Beginnng January 1 Inventory January 5 Purchase 24 4.90 46 5.25 January 7 Sale 15 January 10 Sale 18 January 21 Purchase 20 4.75 What is the value of ending inventory under the periodic weighted average method for the month of January? Round your answer to 2 decimal places