iz Instructions Question 21 Lam Inc. borrowed $100,000 on a one-year, 8% note on March 31,...

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iz Instructions Question 21 Lam Inc. borrowed $100,000 on a one-year, 8% note on March 31, 2025. The principal and the interest will be paid when the note matures in 2026. Wha entry, if any, should Lam Inc. record on December 31, 2025? O Debit Interest Expense and credit Interest Payable for $6,000. O Debit Interest Expense and credit Interest Payable for $8,000. No adjusting entry is necessary. O Debit Interest Expense and credit Interest Payable for $2,000. revious iz Instructions Question 21 Lam Inc. borrowed $100,000 on a one-year, 8% note on March 31, 2025. The principal and the interest will be paid when the note matures in 2026. Wha entry, if any, should Lam Inc. record on December 31, 2025? O Debit Interest Expense and credit Interest Payable for $6,000. O Debit Interest Expense and credit Interest Payable for $8,000. No adjusting entry is necessary. O Debit Interest Expense and credit Interest Payable for $2,000. revious