On December 1, Casio borrowed $69,000 at a 6% interest rate from One Mutual Bank. The note payable plus interest will not be paid until April 1 of the following year. Casio's accounting period ends on December 31, and adjustments are only made at year-end. The adjusting entry needed on December 31 for Casio is: Multiple Choice No entry required. Debit Interest Expense, \$345; credit Interest Payable, $345. Debit Interest Expense, $345; credit Note Payable, $345. Debit Interest Payable, $1,380; credit Interest Expense, $1,380. Debit Interest Expense, $1,380; credit Interest Payable, $1,380