A corporation borrowed money through an 8-month, 6% note for $120.000 on October 1, 2021. The note is due on May 30, 2022. If the corporation's accounting period ends December 31, 2021, how much interest expense will the company recognize during 2021? 0 50 0 $4,800 O $7.200 O $1,800 O $3,000 Question 10: 1 pts Which of the following statements concering dosing entries is false The correct entry to close cost of goods sold includes a credit to the cost of goods sold account O The purpose of closing entries is to transfer information from income statement accounts and from the dividend account to the balance sheet The correct entry to close the dividend account is a credit to Retained Earnings and a debito Dividends V 00