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URGENT PLEASE Maple Company borrows $200,000 on January 1 and signs...

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Accounting

URGENT PLEASE
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Maple Company borrows $200,000 on January 1 and signs a $200,000,4%,9-month note. Interest is due at maturity on September 30 . What adjusting entry should the borrower have made on June 30 before preparing its financial statements? Multiple Choice Debit interest expense $4,000; credit interest payable $4,000. Debit interest payable $4,000; credit cash $4,000. Debit interest expense $4,000; credit cash $4,000. Debit interest payable $4,000; credit interest expense $4,000

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