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Moss County Bank agrees to lend the Sheridan Company $410000 on January 1. Sheridan Company signs a $410000, 6%, 9-month note. What is the adjusting

Moss County Bank agrees to lend the Sheridan Company $410000 on January 1. Sheridan Company signs a $410000, 6%, 9-month note. What is the adjusting entry required if Sheridan Company prepares financial statements on June 30?

A

Interest Expense 12300

Cash 12300

B

Interest Payable 12300

Cash 12300

C

Interest Expense 12300

Interest Payable 12300

D

Interest Payable 12300

Interest Expense 12300

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