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aestion 26 On October 1, HJ. borrowed 320.000 by signing an 8%, one-year note. To journalize the adjusting entry on December 31. Dr. Interest Expense

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aestion 26 On October 1, HJ. borrowed 320.000 by signing an 8%, one-year note. To journalize the adjusting entry on December 31. Dr. Interest Expense $400 / Cr. Interest Payable $400 Dr. Interest Payable $400 / Cr. Interest Expense $400 Dr. Interest Expense 51.600 / Cr. Interest Payable $1,600 Dr. Notes Payable $20.000 / Cr. Cash $20,000

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