QUESTION $1$

On September $1,2015,$ Daylight Donuts signed a $$250,000,5\%,$ six$-$month note payable with the amount borrowed plus accrued interest due six months later on March $1,2016.$ Daylight Donuts should report interest payable at December $31,2015,$ in the amount of $($Do not round your intermediate calculations$)$:

$$6,250$

$$4,167$

$$2,083$

$$0$

$1$ points

QUESTION $2$

On September $1,2015,$ Daylight Donuts signed a $$180,000,10\%,$ six$-$month note payable with the amount borrowed plus accrued interest due six months later on March $1,2016.$ Daylight Donuts records the appropriate adjusting entry for the note on December $31,2015.$ In recording the payment of the note plus accrued interest at maturity on March $1,2016,$ Daylight Donuts would $($Do not round your intermediate calculations$)$:

Debit interest expense, $$3,000$

Debit interest expense, $$9,000$

Debit interest expense, $$6,000$

Debit interest payable, $$3,000$