Problem: The Company received 240-day loan with Metrobank amounting to P400,000 on October 02, 2020. The interest on the loan is 6%. 1. Record the adjusting entry on December 31, 2020: Dr. 1 Cr. 3 2. Record the reversing entry on January 01, 2021: Dr. 5 Cr. 2 4 8 3. Determine the following: The due date that the loan will be paid to Metrobank: 9 The total interest expense that will be paid to Metrobank: 10 INSTRUCTIONS: 1. Choose from the following accounts for the correct account of adjusting entries: Accrued interest payable Interest expense Interest payable 2. For the amounts of debit and credit, encode your answer in whole number without decimal places, no comma and peso sign (eg. if your answer is 4,000, encode it as 4 3. For dates, if your answer is June 20, 2020, encode your answer as June 20