Question: Oriole borrowed $ 7 0 3 0 0 0 on October 1 , 2 0 2 0 and is required to pay $ 7 2

Oriole borrowed $703000 on October 1,2020 and is required to pay $721000 on March 1,2021. What amount is the note payable recorded at on October 1,2020 and how much interest is recognized from October 1 to December 31,2020?
* $703000 and $0.
* $721000 and $0.
* $703000 and $18000.
* $721000 and $10800.

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