skysong, Inc. borrowed $48800 from the bank sg ing a 6%, 3-month note on September 1. Principal and interest are payable to the bank on December 1. If the company prepares monthly financial statements, the adjusting entry that the company should make for interest on September 30, would be: O debit Interest Expense, $244; credit Interest Payable, $244. O debit Note Payable, $2928; credt Cash, $2928. debit Cash, $732; credit Interest Payable, $732. O debit Interest Expense, $2928; credit Interest Payable, $2928