- Assume it is December 31, 2019 and you have an outstanding Note Payable to Fake Bank of Kingsville from when you started Monopoly Corp. The note was originated on July 1, 2019. The note has a principle balance of $15,000 and the annual interest rate is 6%. You can assume the note is current and all appropriate payments have been made so far. Journalize the adjusting entry for 6 months of interest accrued but not paid. It is June 30, 2020 and you pay 6 months interest to bondholders. Journalize that transaction