Melody Company borrowed $132,000 by sining a 1-year, 12%, note payable on July 1, 2030. Interests will be collected at the maturity date. Melody Company records adjusting entries and prepares financial statements at the end of each month. The appropriate adjusting journal entry to be made by Melody Company at the end of July 31 would be O DR: Interest Receivable $1,320; CR: Interest Revenue $1,320 DR: Interest Expense $15,840; CR: Interest Payable $15,840 O DR: Interest Expense $1,320; CR: Cash $1,320 O DR: Interest Expense $15,840; GR: Cash $15,840 O DR: Interest Expense $1,320; CR: Interest Payable $1,320