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Elliot Service borrowed $8,000 from a bank by signing a 10%, one-year note on October 1, 2020. Interest is accrued on December 31,2020 , by:

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Elliot Service borrowed $8,000 from a bank by signing a 10%, one-year note on October 1, 2020. Interest is accrued on December 31,2020 , by: a. Crediting Interest Expense; debiting Cash b. Debiting Interest Expense; crediting Interest Payable c. Debiting Interest Expense; crediting Notes Payable d. Debiting Interest Expense; crediting Cash

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