On October 1, 2018, Highview Company borrows $208,000 on a three-year note that requires the company to pay 6% interest on March 31 and September 30. On December 31, 2018, the adjusting entry to accrue interest on the note should debit: Multiple Choice Interest Expense and credit Cash for $6,240. Interest Payable and credit Interest Expense for $3,120. Interest Expense and credit Interest Payable for $3,120. Interest Expense and credit Interest Payable for $6,240