263 pts Question 3 On November 1. Wells Company signed a 120-day, 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? (Use 360 days a year) No adjusting entry is required. Debit interest Payable. $120: credit Interest Expense, $120. Debit interest Expense. $720; credit Interest Payable, $720. Debit Interest Payable, $240: credit Interest Expense. $240. Debit Interest Expense, $120; credit Interest Payable, $120