On December 1, 2021, ABC Company, borrows $45,000 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, 15% 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? Dr. Interest expense and Cr. Interest payable, $562 Dr. Interest expense and Cr. Interest payable, $1,125 Dr. Interest expense and Cr. Cash, $562 Dr. Interest expense and Cr. Cash, $1,125 What amount of cash will be needed to pay back the note payable plus any accrued interest on June 1, 2022? $48,375 $51,750 $50,625 $47,812