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  3. on october 1st 2021, highview company borrows $215

on October 1st 2021, highview company borrows $215,000 on a three-year note that requires the...

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Accounting

on October 1st 2021, highview company borrows $215,000 on a three-year note that requires the company to pay 12% interest on March 31 and September 30. December 31 2021 the adjusting entry to accrue interest on the note should debit:

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Interest Payable and credit Interest Expense for $6,450. O Interest Expense and credit Interest Payable for $12,900. Interest Expense and credit Interest Payable for $6.450. Interest Expense and credit Cash for $12.900

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