On December 1,Victoria Company Signed a 90-Day,6% Note Payable,with a Face

Multiple Choice

On December 1,Victoria Company signed a 90-day,6% note payable,with a face value of $15,000.What is the adjusting entry to record the accrued interest on December 31?

A) Debit Interest Expense,$75; Credit Notes Payable,$75.
B) Debit Interest Expense,$225; Credit Notes Payable,$225.
C) Debit Interest Expense,$75; Credit Interest Payable,$75.
D) Debit Interest Expense,$150; Credit Interest Payable,$150.
E) No adjusting entry is required.