A business borrowed $57,106 on March 1 of the current year by signing a 30 day, 8% interest bearing note. Assuming a 360-day year, when the note is paid on March 31, the entry to record the payment should include a

debit to Interest Payable for $381

debit to Interest Expense for $381

credit to Cash for $57,106

credit to Cash for $61,674