Miranda Company borrowed $114,000 cash on September 1, 2014, and signed a one-year 4%, interest-bearing note payable. Assume no adjusting entries have been made during the year. Which of the following would be the required adjusting entry at the end of the December 31, 2014 accounting period? option 1,2,3 or 4)

Interest expense	4,560
Interest payable		4,560

Interest expense	1,520
Interest payable		1,520

Interest payable	1,520
Interest expense		1,520

Notes payable	114,000
Interest expense	4,560
Cash		118,560