Recording Accrued Interest Expense Alaska inc borrowed $240,000 cash by signing a oneyear note paysble on November 1 . The note bears interest at 10% and interest is payable upon maturity of the note. a. Record this financing transaction on November 1. b. Record the year-end adjusting entry required on December 31. Hint Prorate the annual interest of 10 s for two months. c. Record the entry to repay the nate on November 1 of the following year