Zorn Inc. makes a sale for $310. The company is required to collect sales taxes amounting to 10%. What is the amount that will be credited to the Sales Tax Payable account? On October 1, 2018, Highview Company borrows $201,000 on a three-year note that requires the company to pay 8% interest on March 31 and September 30. On December 31, 2018, the adjusting entry to accrue interest on the note should debit: Multiple Choice O Interest Expense and credit Interest Payable for $8,040 1 Interest Expense and credit Cash for $8,040 0 Interest Expense and credit interest Payable for $4,020 0 Interest Payable and credit interest Expense for $4,020 0