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What is the adjusting entry required if beta company prepare

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Reference no: EM132505442

Question 1: Alpha Bank agrees to lend Beta Company $600,000 on March 1. Beta Company signs a $600,000, 10%, 12-month note. What is the adjusting entry required if Beta Company prepares financial statements on June 30?

A) Interest Expense 15,000

Cash 15,000

B) Interest Expense 20,000

Interest Payable 20,000

C) Interest Expense 15,000

Interest Payable 15,000

D) Interest Expense 20,000

Cash 20,000

Reference no: EM132505442

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