Martinez Co. borrowed $70,800 on March 1 of the current year by signing a 60-day, 12%, 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 ______ . Round your answer to the nearest whole dollar.

a. debit to Interest Payable for $1,416 b. debit to Interest Expense for $1,416 c. credit to Cash for $70,800 d. credit to Cash for $79,296