At the end of the year, the following interest is payable, but not yet paid. Record the adjusting entry in the general journal.

Interest on $5,000, 60-day, 9% note (for 12 days) ..... $15.00

Interest on $2,500, 30-day, 12% note (for 9 days) ...... 7.50

                                                                                            $22.50