10

John Deere is an American manufacturer of agricultural, construction and forestry machinery, John Deere borrowed $100,000 cash on September 1, 2019, and signed a one-year 6%, interest-bearing note payable. Assume no adjusting entries have been made during the year. Which of the following would be the required adjusting entry at the end of the December 31, 2019 accounting period? Multiple Choice Interest payable Interest expense 2,000 2,000 interest expense Interest payable 2,000 2,000 O Interest expense Interest payable 6.000 6,000 Notes payable interest expense Cash 100,000 6,000 106.000