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On 1 October 2018 , Dodo Enterprise took up a bank loan of $150,000 at an annual interest rate of 10%. Its financial year ends

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On 1 October 2018 , Dodo Enterprise took up a bank loan of $150,000 at an annual interest rate of 10%. Its financial year ends on 31 May 2019. What is the adjusting Journal Entry to record the interest expense on 31 May 2019? Dr Interest expense $15,000, Cr Accrued expense $15,000 Dr Interest expense $10,000, Cr Accrued expense $10,000 Drinterest expense $6,000,Cr Accrued expense $6,000 Dr Interest expense $4,000, Cr Accrued expense $4,000

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