On December 1, 2021. ABC Company, borrows $50,000 cash to expand operations. The loan is made by Flist Bank under a short-term line of credit arrangement. The company signs a six-month, 9% 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, 20212 De Interest expense and Ct. Interest payable, $375 De Interest expense and Ct. Interest payable, $750 O De Interest expense and C. Cash, $375 O De Interest expense and Cr. Cash. $750 What amount of cash will be needed to pay back the note payable plus any accrued interest on June 1, 20227 O$52.250 O $54,500 $53750 $51,875 in connection with this note, ABC Company should report interest expense in 2022 for the amount of $1.875 $4.500 $3750 $2250