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Discountco signed a 15-year note payable on January 1, 2018, of $1,275,000. The note requires annual principal payments each December 31 of $85,000 plus interest

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Discountco signed a 15-year note payable on January 1, 2018, of $1,275,000. The note requires annual principal payments each December 31 of $85,000 plus interest at 10%. The entry to record the annual payment on December 31, 2019, includes O A. a debit to Interest Expense for $119,000. B. a debit to Interest Expense for $127,500 C. a credit to Cash of $212,500. D. a credit to Notes Payable for $85,000

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