40,41

OCC Bank agrees to lend the Allenson Brick Company $200,000 on January 1. Hansby Jello Company signs a $200,000, 6%, 9-month note. The entry made by Hansby Jello Company on January 1 to record the proceeds and issuance of the note is o (Dr.) Cash 200,000 (Dr.) Interest Expense 9,000 (Cr.) Notes Payable 209,000 O (Dr.) Interest Expense 9,000 (Dr.) Cash. 191,000 (Cr.) Notes Payable 200,000 O (Dr.) Cash 200,000 (Cr.) Notes Payable 200,000 O (Dr.) Cash 200,000 (Dr.) Interest Expense 9,000 (Cr.) Notes Payable 200,000 (Cr.) Interest Payable 9,000 OCC Bank agrees to lend the Hansby Jello Company $200,000 on January 1. Hansby Jello Company signs a $200,000, 6%, 9-month note. What is the adjusting entry required if Hansby Jello Company prepares financial statements on June 302 o (Dr.) Interest Expense 6,000 (Cr.) Cash 6,000 o (Dr.) Interest Expense 6,000 (Cr.) Interest Payable 6,000 o (Dr.) Interest Payable 6,000 (Cr.) Interest Expense 6,000 O (Dr.) Interest Payable 6,000 (Cr.) Cash 6,000