Martinez Co, borrowed $50,000 on March 1 of the current year by signing a 60 -day, 9%, interest-bearing note. Assuming a 360-day year, when the note is paid on April 30, the entry to record the payment should include a debit to Interest Payable for $750 debit to Interest Expense for $750 credit to Cash for $50,000 credit to Cash for $54,500