14 Need just answer in 10 minutes. I will rate positive

On December 1, 2021, ABC Company, borrows $25,000 cash to expand operations. The loan is made by First Bank under a short-term line of credit arrangement. The company signs a six-month, 15% promissory note. Interest is payable at maturity. ABC's year-end is December 31 Required: 4 ABC Company should record which of the following adjusting entries at December 31, 2021? O Dr. Interest expense and Cr. Interest payable, $312 O Dr. Interest expense and Cr Interest payable, $625 O Dr. Interest expense and Cr. Cash, $312 O Dr. Interest expense and Cr. Cash, $625. What amount of cash will be needed to pay back the note payable plus any accrued interest on June 1, 2022? O $26,875 O $28,750 O $28.125 O $26,562 In connection with this note, ABC Company should report interest expense in 2022 for the amount of: O $1,562 O $3,750 O $3,125 O $1.875