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Tebow Company issues a 5-year, 6% note payable for $8,400 on December 2, 2022. The entry required at the company's year-end of December 31 would

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Tebow Company issues a 5-year, 6\% note payable for $8,400 on December 2, 2022. The entry required at the company's year-end of December 31 would be which of the following? Debit Interest Payable for $40.04. Credit Interest Expense for $40.04. Debit Interest Expense for $40.04. Credit Note Payable for $40.04. Debit Interest Expense for $40.04. Credit Interest Payable for $40.04. There is no entry required since this is a long-term

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