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Notes Payable A company issued a $50,000,6% note payable on July 1st. The...

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Accounting

Notes Payable
A company issued a $50,000,6% note payable on July 1st. The note has a term of one year. Interest expense recorded for the current calendar year is $_____________.
Income Taxes
A company has pre-tax accounting income of $400,000 for the year. Included within this amount is a non-deductible fine of $20,000 and tax-exempt interest income of $10,000. The company's applicable income tax rate is 30%. The company's income tax payable for the year is ______________.
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