Please SOLVE CORRECTLY WITH CLEAR EXPLANATION NEEDED

Exercise 8-5A Determine interest expense (LO8-2) 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 $6 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 (Le. 5 should be entered as 5,000.000).) "Book Interest Rate Fiscal Year End Intorost Expense 1 Hint 11% December 31 9% September 30 10% October 31 Print 75% January 31 References