on november 1, alan company signed a 120-day, 12% note payable, with a face value of $19,800. what is the adjusting entry for the accrued interest at december 31 on the note? (use 360 days a year.) multiple choice debit interest expense, $396; credit interest payable, $396. debit interest payable, $792; credit interest expense, $792. debit interest payable, $528; credit interest expense, $528. no adjusting entry is required. debit interest expense, $264; credit interest payable, $264.
