On June 1. A company purchased equipment for $50,000 from IG Company, paying $20,000 in cash and giving a one-year, 9% note for the balance. What is the adjusting entries necessary at December 31, 2015? Assume straight-line amortization Dr. Interest Expense 1575 and Cr. Interest Payable 1575 Dr. Interest Expense 2700 and Cr. Interest Payable 2700 Dr. Interest Payable 1575 and Cr. Interest Expense 1575 Dr. Interest Payable 2700 and Cr. Interest Expense 2700 1 Point Question 10 On September 30, the company borrowed $105,000, by signing a one-year zero-interest-bearing $120,000 note at First State Bank, What is the adjusting entries necessary at December 31, 2015. Assume straight-line amortization A Interest Expense 3750 and Cr. Notes Payable 3750 B Dr. Interest Expense 3750 and Cr. Interest Payable 3750 Dr. Notes Payable 3750 and Cr. Expense 3750 Dr. Interest Payable 3750 and Cr. Interest Expense 3750