on november 1, alan company signed a 120-day, 10% note payable, with a face value of $30,000. alan made a december 31 year-end accrual for interest earned. what is the journal entry as of march 1 to record the payment of the note? (use 360 days a year.) multiple choice debit notes payable $30,000; debit interest expense $1,000; credit cash $31,000. debit cash $30,500; credit notes payable $30,500. debit notes payable $30,000; debit interest payable $500; debit interest expense $500; credit cash $31,000. debit notes payable $30,000; debit interest payable $500; credit cash $30,500. debit notes payable $31,000; credit interest payable $500; credit interest expense $500; credit cash $30,000.