Adjusting Entries for Interest At December 31, 2014, Hoffman Corporation had two notes payable outstanding (notes 1 and 2). At December 31.2015, Hoffman also had two notes payable outstanding (notes 3 and 4). These notes are described below Date of note Principal Amount Interest Rate Number of Days December 31, 2014 Note 1 Note 2 December 31, 2015 Note 3 Note 4 11/16/2014 $15,000 8% 120 12/4/2014 6,000 60 12/7/2015 60 12/21/2015 18,000 30 Required a Prepare the adjusting entries for interest at December 31, 2014 b. Assume that the adjusting entries were made at becember 31.2014. Prepare the 2018 journal entries to r were outstanding at December 31/ 2014 c Prepare the adjusting entries for interest at December 31, 2015 Round answers to nearest dollar, Use 360 days for interest calculations when applicable tes that