Help Save & Exit Sub TB MC Qu. 09-75 On November 1, Alan Company... On November 1, Alan Company signed a 120-day, 12% note payable, with a face value of $19,800. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year.) Multiple Choice C) Debit interest Expense, $396; credit interest Payable, $396 Debit interest Payable, $792, credit Interest Expense, $792. 0 O Debit interest Payable, $264; credit interest Expense, $264 0 C) No adjusting entry is required. 0 C) Debit interest Expense, $528; credit Interest Payable, $528 0