On December 1, 2021, ABC Company, borrows $35,000 cash to expand operations. The loan is made by First Bank under a short-term- line of credit arrangement. The company signs a six-month, 6% promissory note. Interest is payable at maturity. ABC's year-end is December 31. Required: ABC Company should record which of the following adjusting entries at December 31, 2021? O Dr. Interest expense and Cr. Interest payable, $175 O Dr. Interest expense and Cr. Interest payable, $350 Dr. Interest expense and Cr. Cash, $175 Dr. Interest expense and Cr. Cash, $350 What amount of cash will be needed to pay back the note payable plus any accrued interest on June 1, 2022? $36,050 O $37,100 O $36,750- O $35,875 In connection with this note, ABC Company should report interest expense in 2022 for the amount of: O $875 O $2,100 O $1,750 O $1,050