54. On January 1, Bloomingdale, Inc. borrows $73,600 from First Estate Bank. The loan is due in one year along with 4% interest. The company is preparing its quarterly report for March 31. Which of the following best describes the necessary accrual for interest expense? A) $ 736 increase liabilities, increase expenses B) $2,944 decrease liabilities, decrease cash C) $2,944 increase expenses, decrease cash D) $2,944 increase liabilities, decrease expenses E) $ 736 decrease liabilities, decrease cash