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Jordan Music Store borrowed $75,000 from the bank signing a 10%, 3-month note on September 1. Principal and interest are payable to the bank on

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Jordan Music Store borrowed $75,000 from the bank signing a 10%, 3-month note on September 1. Principal and interest are payable to the bank on December 1. If the company prepares monthly financial statements, the adjusting entry that the company should make for interest on September 30, would be .a. Debit Interest Expense, S7,500: Credit Interest Payablo, S7,500 O b. Dobit Interest Expenso, S625: Credit Interest Payable, S625 O c. Debit Note Payablo $7,500: Credit Cash, S7,500 .d. Dobit Cash, S625; Credit Interest Payablo, S625 O

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