Skysong, Inc. borrowed $12300 from the bank signing a 7%, 3-month note on October 1, 2021. Principal and interest are payable to the bank on January 1, 2022. Ir the company prepares monthly Enancial statements, the adjusting entry that the company should make for interest on October 31, 2021 would be debit Cash $72, credit Interest Payable, $72. debit Interest Expense, $861; credit Interest Payable $861. debit interest Expense, $72, credit interest Payable, $72 debit Note Payable, $661 credit Cash, $861