Exercise $12\mathrm{.}6($Algo$)$ Recording adjustments for accrued interest. LO $12-2$

On December $31,20$X$1,$ the Notes Payable account at Summer's Boutique Shop had a balance of $$56,800.$ This amount represented funds borrowed on a six$-$month, $12$ percent note from the firm's bank on December $1.$

Record the journal entry for interest expense on this note that should be recorded on the firm's worksheet for the year ended December $31,201.$

Answer is complete but not entirely correct.

$\backslash$table$[[$No$,$Date,General Journal,Debit,Credit$],[1,$December $31,20x,$Interest expense,,$409x,],[,,$Interest payable,$2,,408x$