5 3-12 Accrued Expense Suppose Resort Travel borrowed \$60,000 on March 1 by sipning a fote payable to Royal Bank. Resort Travel's interest expense on the note payable for the remainder of its fiscal year (March through May) is $600. Record Resort Travel's adjusting entry to accrue interest expense at May 31 Post the adjusting entry to the T-accounts of the two accounts affected by the adjustment