Dont understand why the last two are wrongSolution Solution

Solution

Solution: No. Account Titles and Explanation Debit Credit a. Accounts Payable 83,000 Notes Payable 83,000 No. Account Titles and Explanation Debit Credit b. Notes Payable 83,000 Interest Expense 3,113 Cash 86,113 Working Notes: Interest Expense = note value x rate x days/360 =$83,000 x 15% x 90 /360 =$3,112.50 =3,113 Notes: Your error is rounding off error Please feel free to ask if anything about above solution in comment section of the question.