On 15 February 2021, Sephora Ltd borrowed $16 000 from ANZ Bank at 8% interest. The principal and interest are payable on 15 August 2021. The adjusting entry at year-end, 30 June 2021 is:

Select one: DR Interest Expense $480 CR Interest Payable $480 DR Interest Payable $480 CR Interest Expense $480 DR Cash at bank $16000 CR Interest Payable $16000 DR Interest Expense $16000 CR Interest Payable $16000