q11

On November 1, 2020, Hamad Town Trading signed a 120-day, 8% note payable with a face value of $180,000 The adjusting entry for the accrued interest at December 31 on the note would be? (Use 360 days a year) O A. Debit Interest Payable, $1,200, Credit Interest Expense, $1,200 B. Debit Interest Expense, $2,400, Credit Interest Payable $2,400 OC. Debit Interest Expense, $1,200, Credit Interest Payable, $1 200 OD. No adjusting entry is required