$$ Your answer is partially correct.

Larkspur Music School borrowed $$38,400$ from the bank signing a $6\%,6-$month note on November $1.$ Principal and interest are

payable to the bank on May $1.$ If the company prepares monthly financial statements, what adjusting entry should the company make

at November $30$ with regard to the note $($round answer to the nearest dollar$)?($List all debit entries before credit entries. Credit account

titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No entry" for the account

titles and enter $0$ for the amounts.$)$

Date Account Titles and Explanation

Debit

Credit

Nov. $30$

Interest Expense