a. Debit Interest Expense and credit Interest Payable $7500. b. Debit Interest

a. Debit Interest Expense and credit Interest Payable $7500. b. Debit Interest Expense and credit Cash $7500. c. Debit Interest Expense and credit Interest Payable $1250. d. Debit Interest Expense and credit Cash $1250.
On September 1 2012 Daylight Donuts signed a $100000 9% six-month note payable with the amount borrowed plus accrued interest due six months later on March 1
2013. Daylight Donuts records the appropriate adjusting entry for the note on December 31 2012. In recording the payment of the note plus accrued interest at
maturity on March 1 2013 Daylight Donuts would a. Debit Interest Expense $3000. b. Debit Interest Expense $1500. c. Debit Interest Payable $1500. d. Debit Interest Expense $4500.