Cash. 212,000 d. Interest Payable. 8,000 200,000 4,000 Notes Payable.. Interest Expense.. Cash 212,000 A) a B) b C) c D) d Use the following to answer questions 4-5: On October 1, Jerry's Carpet Service brrows S250,000 from First National Bank on a 3-month, $250,000, 8% note. 4. What entry must Jerry's Carpet Service make on December 31st before financial statements are prepared? a. Interest Payable. Interest Expense. b. Interest Expense.. Interest Payable.. c. Interest Expense.. Interest Payable. d. Interest Expense.. Notes Payable. 5,000 5,000 20,000 20,000 5,000 5,000 5,000 5,000 A) a B) b C) c D) d Pg.2 5. The entry by Jerry's Carpet Service to record payment of the note and accrued interest on January 1st is a. Notes Payable.. Cash.... Notes Payable. 255,000 255,000 250,000 5,000 b. Interest Payable.. Cash..... 255,000 250,000 20,000 Notes Payable. Interest Payable. Cash.... Notes Payable. c. 270,000 250,000 .5,000 d. Interest Expense. Cash... 255,000 A) a B) b C) c D) d Use the following to answer questions 6-7: On September 1st, Ken's Painting Service borrows $50,000 from National Bank on a 4-month, $50,000, 6% note. wnt Ken's Painting Service make on December 31 before financial