Journalize an adjusting entry to accrue interest expense at December 31, assuming no other adjusting entries have been made for the year. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Dec 31 Interest expense Accounts Interest payable Post to the two accounts affected by the adjustment. Interest payable Jan 1 32000 Debit Credit 1,400 Interest expense Dec 31 1,400 1,400