Question: The note payable is dated April 1. It is a 6-month, 6% note. What would be the adjusting entry? Debit Cash $100, Credit Notes Receivable

The note payable is dated April 1. It is a 6-month, 6% note. What would be the adjusting entry? Debit Cash $100, Credit Notes Receivable $100 Debit Notes Payable Expense $100, Credit Cash $100 Debit Interest Payable $100, Credit Interest Expense $100 O Debit Interest Expense $100, Credit Interest Payable $100

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