Saved Help lomework 2 i Save & Exit TB MC Qu. 11-75 On November 1, Alan Company... On November 1, Alan Company signed a 120-day, 11% note payable, with a face value of $14,400. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year.) Multiple Choice Debit Interest Expense, $264 credit Interest Payable. $264. No adjusting entry is required. Debit Interest Payable. $176. credit Interest Expense, $176. 14f15 Next Debit Interest Expense, $264; credit Interest Payable, $264. No adjusting entry is required. Debit Interest Payable, $176, credit Interest Expense, $176. o Debit Interest Payable, $528; credit Interest Expense. $528. Debit interest Expense. $352; credit Interest Payable. $352