On October 1, Sunland Camping borrows $130000 from National Bank on a 4-month, $130000, 7% note. What transaction must Sunland Camping make on December 31 before financial statements are prepared? O increase Interest Payable and increase Interest Expense by $2275 O decrease Interest Payable and increase Interest Expense by $2275 O decrease Interest Payable and decrease Interest Expense by $2275 O increase Interest Payable and decrease Interest Expense by $2275 A

On October 1 , Suniand Camping borrows $130000 from National Bank on a 4 -month, $130000,7% note, What transaction must. Sunland Camping make on December 31 before financial statements are prepared? increase Interest Payable and increase Interest Expense by $2275 decrease Interest Payable and increase Interest Expense by $2275 decrease Interest Payable and decrease Interest Expense by $2275 increase Interest Payable and decrease Interest Expense by $2275