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 $500. 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. 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.) Journal entry worksheet Note: tnter debits betore credits