carboy inc, has a December 31 year end. on November 1, year1, the company borrows $120000 from third national bank. the annual interest rate is 9%. the note is due in one year on October 31, year2. interest is payable at maturity on October 31, year2. prepare journal entry for December 31,year1

U work you have completed so far, it does not indicate com Required information Knowledge Check 01 Carboy, Inc., has a December 31 year-end. On November 1 Year 1, the company borrows $120,000 from Third National Bank. The annual interest rate is 9%. The note is due in one year on October 31, Year 2. Interest is payable at maturity on October 31. Year 2 Prepare the adjusting entry dated December 31, Year 1. (if no entry is required for a transaction event, select "No journal entry required in the first account field.) Answer is not complete. Date General Journal Credit December 31 Interest expense Interest payable Notepayable Cash MacBook Air W