Help Save & Exit Submit On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $11,700. Wh

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Help Save Exit Submit On November 1 Alan Company Signed A 120 Day 10 Note Payable With A Face Value Of 11 700 Wh 1 (19.94 KiB) Viewed 12 times

Help Save & Exit Submit On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $11,700. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year) Multiple Choice No adjusting entry is required. Debit Interest Payable, $130: credit Interest Expense, $130 Debit Interest Expense, $195; credit Interest Payable, $195.