On January 1, Marshall Co. Issued a $360,000, three-year, 6% installment note payable with payments of $134,680 principal and interest due on January 1 for each of the next three years. 1. Prepare the adjusting journal entry to accrue interest at December 31, Year 2. If required, round answers to the nearest whole amount. Interest Expense 14,400 x Interest Payable 14.400 X 2. Show the account(s) and amount(s) and where it(they will appear on a classified balance sheet prepared on December 31, Year 2. If required, round answers to the nearest whole amount. Partia Balance Sheet Current Liabilities Notes Payable x Notes Payable - current portion 120,000 120,000 x Long-Term Liabilities Interest Expensex 1100 X