On December 1, Victoria Company signed a 90-day, 6% note payable, with a face value of $15,000. What is the adjusting entry to record the accrued interest on December 31?

Debit Interest Expense, $75; Credit Interest Payable, $75.

Debit Interest Expense, $75; Credit Notes Payable, $75.

Debit Interest Expense, $150; Credit Interest Payable, $150.

Debit Interest Expense, $225; Credit Notes Payable, $225.

No adjusting entry is required.