1 West County Bank agrees to lend Drake Builders Company $200,000 on January 1. Drake Builders Company signs a $200,000, 6%, 6-month note. What is the adjusting entry required if Drake Builders Company prepares quarterly financial statements on March 30? ODEBIT: Interest Expense 6,000 and CREDIT: Interest Payable 6,000. DEBIT: Interest Expense 6,000 and CREDIT: Cash 6,000. DEBIT: Interest Expense 3,000 and CREDIT: Interest Payable 3,000. DEBIT: Interest Payable 3,000 and CREDIT: Interest Expense 3,000. None of the above. 00