CHS Company Purchased a Truck from JLS Corp $8 \%$ Note Payable For

Multiple Choice

CHS Company purchased a truck from JLS Corp. by issuing a 6-month, $8 \%$ note payable for $\$ 37,500$ on November 1 . On December 31 , the accrued expense adjusting entry is

A) $\text { No entry is required }$

B) $\begin{array} { l }\text { Interest Expense }&3,000 \\ \text {Interest Payable }&&3,000 \\\end{array}$


C) $\begin{array} { l }\text {Interest Expense }&6,000 \\ \text { Interest Payable}& &6,000\\\end{array}$


D) $\begin{array} { l } \text {Interest Expense }&500 \\ \text {Interest Payable }&&500 \\\end{array}$