On September 1, 2017 Culver Corp.issued a 9% note payable to National Bank for $750,000, payable in three equal annual principal payments of $250,000, plus interest.On this date, the bank's prime rate was 8%.The first payment for interest and principal was made on September 1, 2018.At December 31, 2018, Culver should record accrued interest payable of

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The Answer of On September 1, 2017 Culver Corp.issued a 9% note payable to National Bank for $750,000, payable in three equal annual principal payments of $250,000, plus interest.On this date, the bank's prime rate was 8%.The first payment for interest and principal was made on September 1, 2018.At December 31, 2018, Culver should record accrued interest payable of