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Business, 20.09.2020 14:01 adazeb2003

Tate Company purchased equipment on November 1, 2020 and gave a 3-month, 9% note with a face value of $80,000. The December 31, 2020 adjusting entry is A. debit Interest Expense and credit Interest Payable, $1,800. B. debit Interest Expense and credit Interest Payable, $7,200. C. debit Interest Expense and credit Cash, $1,200. D. debit Interest Expense and credit Interest Payable, $1,200.

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