On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $20,700. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year.) Multiple Choice Debit Interest Expense, $345, credt interest Payable, $345 Debit Interest Payable, $460. credt interest Expense. $400 1 Debit Interest Expense, $230, credit interest Payable, $230 No adjusting entry is required Debil interest Payable, $690, credit Interest Expense, $600