(Answered) Question - west county bank agrees to lend sandhill co

Accounting

Question - West County Bank agrees to lend Sandhill Co. $508000 on January 1. Sandhill Co. signs a $508000, 6%, 6-month note. What is the adjusting entry required if Sandhill Co. prepares financial statements on March 30?

Interest Expense7620 Interest Payable 7620

Interest Expense15240 Interest Payable 15240

Interest Expense15240 Cash 15240

Interest Payable7620 Interest Expense 7620

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