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estion 22 Note Payable of $6,000 represents a loan that was taken on June 1, 2019 at a yearly interest rate of 10%. The adjusting

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estion 22 Note Payable of $6,000 represents a loan that was taken on June 1, 2019 at a yearly interest rate of 10%. The adjusting entry required on Aug 318, 2019 will be: Cash $200, credit Note Payable $200 Debit Interest Payable $100, credit Interest Expense $100 Debit interest expense $150, credit Interest payable $150 Debit cash $100, credit Interest Payable $100

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