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Boatsman Enterprises has a $72,500 note payable at December 31 . Interest in the amount of $3,625 has accrued but has not yet been paid.

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Boatsman Enterprises has a $72,500 note payable at December 31 . Interest in the amount of $3,625 has accrued but has not yet been paid. Both the note payable and the acerued interest will become due next year. How will the interest affect the adjustments at the end of the period? Multiple Choice Interest Expense does not affect tils perod since it wil not be poid the expense will be recogded when the note and interest ore paid in foll Interest Expense shovid be increased, because the cont of interestrelines to the curvent petiod. Note Payable chould be increased to refiect the adanional interent that wat be due when the nete is paid off nent yes. Inserest Respivable hhoua be incresed to reffect ife accrued interest on the note geyshie

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