Question: Espinosa, Inc., gave a creditor a 90-day, 6% note payable for $100,000 on December 16. No payments were made in December. a. Prepare the entry

Espinosa, Inc., gave a creditor a 90-day, 6% note payable for $100,000 on December 16. No payments were made in December. a. Prepare the entry Espinosa must make at December 31. (Use a 365-day year.) Do not round intermediate calculations. Round the final answer to the nearest whole dollar. Account Debit Credit Interest expense 1,500 0 Answer Interest payable 0 1,500 Answer To record adjustment at December 31. b. Post the journal entries from a. to

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