At December 31, the unadjusted trial balance of H&R Tacks reports Interest Payable of $0 and Interest Expense of $0. Interest incurred and owed in December totals $530. Required: 1. Prepare the adjusting journal entry on December 31. 2. Post the beginning balances and adjusting entries to the following T-accounts. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting journal entry on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal 1 December 31 No Journal Entry Required No Journal Entry Required Interest Payable Debit Credit 530 At December 31, the unadjusted trial balance of H&R Tacks reports Interest Payable of $0 and Interest Expense of $0. Interest incurred and owed in December totals $530. Required: 1. Prepare the adjusting journal entry on December 31. 2. Post the beginning balances and adjusting entries to the following T-accounts. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the beginning balances and adjusting entries to the following T-accounts. Interest Payable Debit Beginning Balance Ending Balance Credit 0 Interest Expense Debit Credit Beginning Balance Ending Balance