Dobbin Corporation borrowed $1,500,000 on a one-year, 6% note payable on August 1, 2012. All principal and interest will be paid at the maturity date, August 1, 2013. What adjusting entry must Dobbin make related to the note on December 31, 2012?

1-Interest receivable + $90,000

Interest revenue + 90,000

2-Interest expense + $37,500

Interest payable + $37,500

3-Interest expense + $52,500

Interest payable + 52,500

4-Interest expense + $90,000

Interest payable + $90,000