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orce Completion Once started, this test must be completed in one sitting, Do not leave...

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Accounting

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orce Completion Once started, this test must be completed in one sitting, Do not leave the test before clicking Save and Submit. Question Completion Status: QUESTION1 on November 1, Alan Company signed a 4 month, 8% note payable, with a face value of $9,000, what is the adjusting entry for the accrued interest at December 31 on the note? a. Debit interest payable, $120; credit interest expense, $120. o b. Debit interest expense, $120; credit interest payable, s120. OC.Debit interest expense, $720; credit interest payable, $720 o d. Debit Interest payable, s240; credit interest expense, $240 QUESTION 2 1 pa on September 1, 2018 Paul Company signed a 6 month, 6% note payable, with a face value of $9,000. Assume that on December 31, 2018 Paul C made the appropriate year-end accrual for interest of $180. What journal entry would be recorded on

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