7. Baden Industries borrows $20,000 at 7% annual interest for six months on October 1st 2017. Which is the appropriate entry to accrue interest if Baden employs a December 31" 2017, fiscal year? (Show your work to arrive at the answer.) (2 pts) a. Interest Expense $350 Interest Payable $350 b. Interest Expense $1,400 Interest Payable $1,400 c. Interest Expense $350 Notes Payable $350 d. Notes Payable $1,400 Interest Payable $1,400