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On November 1, Alan Company signed a 120 -day, 85 note payable, with a face...

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Accounting

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On November 1, Alan Company signed a 120 -day, 85 note payable, with a face value of $26,900. What is the adjusting entry for the accrued inte December 31 on the note? (Use 360 days a yent.) Mumpie Choice Debit interest Expense. 5348 , avoi interest Payable. 5348. No odjusting entry is required. Debit interest Expense. \$232: credit interest Paysble, 5232. Debit interest Payable, 3464 , credit intereut Expense, 5464

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