On December 1, Miller Company borrowed $780,000, at 9% annual interest, from the Nomo Bank. Miller has 150 days before the first payment is required. What is the adjusting entry that Miller would need to make on December 31, the calendar year-end? (Use 360 days in a year.) Debit Interest Expense, $5,850; credit Accruals, $5.850. Debit Accruals, $5,850; credit Interest Expense. $5,850. Debit Interest Expense, $5,850; credit Cash, $5,850. Debit Interest Expense, $70,200; credit Accruals, $70,200. Debit Interest Expense, $29,250;credit Accruals, $29,250