Click to watch the Tell Me More Learning Objective 1 video and then answer the questions below. 1. The journal entry for the issuance of a promissory note by a borrower to purchase inventory would include a. a credit to Merchandise Inventory b. a credit to Notes Payable c. a debit to Notes Payable d. None of these choices are correct. 2. On December 1, a company accepted a $5,000, 4%, 90-day note. How much accrued interest (rounded to the nearest cent) will be recorded as an adjusting entry on December 31, the end of the accounting period? a. $16.67 b. $166.67 C. $1.67 d. $0.00; interest is not accrued at year-end