Interest of $700 has accrued on a note payable to the bank. The adjusting entry to record this debt would be: a. a debit to Interest Payable and a credit to Interest Expense for $700 b. a debit to Interest Expense and a credit to Cash for $700 c. a debit to Interest Expense and a credit to Interest Payable for $700 d. a debit to Cash and a credit to Interest Payable for $700