A Hospital invested $120,000 in 10 percent government bonds on July 1, 2021. These bonds, which were purchased at face value, pay interest annually on July 1, commencing July 1, 2022. Assuming that adjustments are made annually on December 31 only, prepare the necessary adjusting entry for accrued interest as of December 31, 2021. 60,000 100,000 O 40,000 90,000

Pitman Hospital invested $120,000 in 10 percent government bonds on July 1,2021 . These bonds, which were purchased at face value, pay interest annually on July 1 , commencing July 1 , 2022. Assuming that adjustments are made annually on December 31 only, prepare the necessary adjusting entry for accrued interest as of December 31, 2021. 60,000 100,000 40,000 90,000