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On June 1, the company purchased equipment for $150,000 from Rao Company, paying $50,000 in...

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Accounting

On June 1, the company purchased equipment for $150,000 from Rao Company, paying $50,000 in cash and giving a one-year, 9% note for the balance. the end of year adjustment entry will include which of the following?a. a debit to interest expense A/C and a credit to Cash A/C of $9,000. b.a debit to interest expense A/C and a credit to interest payable A/C of $9,000. c.a debit to interest expense A/C and a credit to interest payable A/C of $5,250. d.a debit to interest expense A/C of $9,000 and a credit to cash A/C of $3,750 and interest payable A/C of $5,250

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