Remaining Time: 1 hour, 21 minutes, 41 seconds. Question Completion Status: WEIT Prommury Moe. QUESTION 34 Watunga County Bank agrees to lend Hoffman Granite Company 5600,000 on January 1 Hoffman Granite Company signs a $600,000, 8%, 9-month note. What is the adjusting entry required if Hoffman Granite accrues interest on January 31? Debit Interest Expense for $4.000: Credit Cash for $4.000 Debit interest Payable for $4,000; Credit Interest Expense for $4,000 Debit Interest Payable for $4.000 Credit Cash for 54 000 Debit Interest Expense for $4,000: Credit Interest Payable for $4,000 QUESTION 35 2 Lake Coffee Company reported net sales of $180.000, beginning total assets of $200,000, and ending total assets of $300,000. What was the company's asset turnover? 0.20 0.90 0.72 1.39 QUESTION-36 Zp