Megan Company borrowed $12,000 from Bank of Maryland on December 1, 2013, and signed a 90 day, 8% Notes Payable. If Megan's accounting period ends on December 31, 2013, which of the following willnotbe true for Megan Company (assume each month has 30 days)?

Select one:

A. On December 31, 2013, Megan will debit Interest Expense for $80B. On March 1, 2014, Megan will debit Interest Payable for $160C. On December 31, 2013, Megan will credit Interest Payable for $80D. On March 1, 2014, Megan will debit Interest Expense for $160