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QUESTION 21 3.25 points Save Answer Use the following information to answer the next two questions: Gus Inc. borrowed $12,000 by issuing a 12%, 120 day note payable on November 1, 2008. The December 31, 2008 adjusting journal entry would include a credit to which account? Interest Payable ORetained Earnings ONote Payable Interest Receivable None of the above 3.25 points Save Answer Hide Course Menu ESTION 22 Use the following information to answer the question: Gus Inc. borrowed $12,000 by issuing a 12%, 120 day note payable on November 1, 2008. The amount of the December 31, 2008 adjusting journal entry would be? $1,440 $240 $480 $720 None of the above Save and Submit Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answers. QUESTION 23 3.25 points Save Answer Use the following information to answer the next two questions: On December 31, 2008, May Company made an adjusting entry to record $1,800 of accrued interest orn a note receivable. The journal entry would include a debit to which type of account?. Asset Liability Owners' Equity Revenue Expense 3.25 points Save Answer QUESTION 24 Use the following information to answer the question: On December 31, 2008, May Company made an adjusting entry to record $1,800 of accrued interest on a note receivable. The journal entry would include a credit to which type of account?. Asset Liability Owners' Equity Revenue Expense Save and Submit Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answers