Question 20 On November 1, 2020, Halton Corp. purchased equipment by signing a 6-month, 4% note for $180,000. The December 31, 2020, adjusting entry required in connection with this note is debit Interest Expense and credit Cash, $1,200. debit Interest Expense and credit interest Payable, $7.200. debit Interest Expense and credit Interest Payable, $1.200. debit Interest Expense and credit interest Payable, 53,600