On October 1, Year 1 Coker Company issued a $1,000 face value discount note that carried a 6% annual interest rate and a one year term to maturity. Which of the following is the journal entry that would be required to recognize accrued interest expense on December 31, Year 1? Which of the following represents the correct journal entry to record a taxable cash sale of $400 if the sales tax rate is 5%