Question 48 (1 point) A company has a bank loan that requires it pay monthly interest of $1,000. At the end of the month, the company has not yet paid the amount to the bank and the bank has not yet asked for it is there a journal entry required and if so, what is the correct entry 1 1 9 Yes, Dr. Interest Expense $1,000; G. Interest Payable $1,000 Yes, Dr. interest Payable $1,000; Cr. Interest Expense $1,000 O No journal entry yet required, the bank has not requested the funds Yes: Dr. Interest Expense $1.000, G. Bank Loan $1.000 12 15 18 Question 49 (1 point) What is the monthly interest due on a $60,000 Note Payable that carries a 8% interest rate. No principal payments have been made on the note since it was drawn down 3 years ago. $4,800 2 $1.200 27 O $400 30 514400 3 Question 50 (1 point) Measure of a company's short term ability to pay its obligations as they come dus is known as 36 Retained Eaming Soluency Profitability i e 10