Resort Inc. borrowed $100,000 on October 1 by signing a note payable to Metro One Bank. The interest expense for each month is $458. The loan agreement requires Resort Inc. to pay interest on December 31 1. Make Resort Inc.'s adjusting entry to accrue interest expense and interest payable at October 31, at November 30, and at December 31. Date each entry and include its explanation 2. Post all three entries to the Interest Payable account. You need not take the balance of the account at the end of each month 3. Record the payment of three months' interest at December 31 Requirement 1. Make Resort Inc.'s adjusting entry to accrue interest expense and interest payable at October 31, at November 30, and at December 31. Date each entry and include its explanation. (Record debits first, then credits. Enter explanations on the last line.) Make the adjusting entry to accrue monthly interest expense for October. Journal Entry Date Accounts and Explanation Debit Credit Oct Make the adjusting entry to accrue monthly interest expense for November. Journal Entry Accounts and Explanation Date Debit Credit Nov Make the adjusting entry to accrue monthly interest expense for December Journal Entry Accounts and Explanation Date Debit Credit Dec Requirement 2. Post all three entries to the Interest Payable account. You need not take the balance of the account at the end of each month. (Leave unused cells blank.) Interest Payable