On November 1, Alan Company signed a 120-day, 12% note payable, with a face value of $24,300. 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, $486; credit Interest Payable, $486. Debit Interest Payable, $324; credit Interest Expense, $324 Debit Interest Expense, $648; credit Interest Payable, $648. No adjusting entry is required