On August 1 Year 1, Bellisa Company issued a $33,000 4%, 1-year note to Citizens Bank. Which of the following entries reflects the adjustment required as of December 31, Year 1? Multiple Choice 550 Interest expense Interest payable 550 1,320 Interest payable Interest expense 1,320 550 Interest expense Notes payable 550 1,320 Interest expense Interest payable 1,320