QUESTION 5 Joyce's Gifts signs ae-month note payable to help finance increases in inventory November 1 the amount of $50,000 with annual interest of 8%. What is expense accrued to that date, if no entries have been made previously for the for the Christmas shopping season. The note is signed on adjusting entry to be made on December 31 for the interest rest? a. Interest Expense Interest Payable b. Interest Expense Interest Payable 500 500 7,500 7,500 c. Interest Expense 500 Cash. 500 d. Interest Expense 500 Note Payable 500 Click Save and Submit to save and submit. Click Save All Answers to save all answers.