On November 1, 2019, Smith Stores borrowed $400,000 cash on a 1-year, 6% note payable that requires Smith to pay both principal and interest on October 31, 2020. Given no prior adjusting entries have been recorded, the adjusting journal entry on December 31, 2019, Smith's year-end, would include az Multiple Choice credit to Note Payable of $4,000 debit to Interest Expense of $24,000. credit to Interest Payable of $4,000, credit to Cash of $4,000