See The World Inc. borrowed $95,000 on October 1 by signing a note payable to community Bank. The interest expense for each month is $435. The loan agreement requires See The World Inc. to pay interest on December 31. 1. 2. Make See The World 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. Post all three entries to the Interest Payable account. You need not take the balance of the account at the end of each month. Record the payment of three months' interest at December 31. 3. Requirement 1. Make See The World 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. Make the adjusting entry to accrue monthly interest expense for October. Journal Entry Date Accounts and Explanation Debit Credit Oct Accounts Payable Accounts Receivable Cash Interest Expense Interest Income Interest Payable Notes Payable Accounts and Explanation Make the adjusting entry Date Debit Credit Nov Make the adjusting entry to accrue monthly interest expense for December. Journal Entry Date Accounts and Explanation 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 Requirement 3. Record the payment of three months' interest at December 31. Journal Entry Date Accounts and Explanation Debit Credit Dec