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On August 15th, 2017, Kinney Industries signs a $220000, 8%, twelve-month note payable. Journalize the entry to accrue interest on December 31st, 2017. Interest Expense

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On August 15th, 2017, Kinney Industries signs a $220000, 8%, twelve-month note payable. Journalize the entry to accrue interest on December 31st, 2017. Interest Expense $5866.67 Interest Payable $5866.67 Interest Expense $6600 Interest Payable $6600 Interest Expense $11000 Interest Payable $11000 Interest Expense $17600 Interest Payable $17600

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