On October 1, 2020 Vanderbilt Company borrowed $270,000 cash from Mercury Bank under a non-committed short term line of credit arrangement. Vanderbilt company issued a six month, 12% promissory note. All of the interest was payable at maturity. Vanderbilts physical. Is the calendar year. Prepare the adjusting entry for the note by the Vanderbilt on December 31, 2020.