On February 1, 2018, a company borrowed $10,000 at 3% from the bank. Interest is payable every year on February 1st beginning February 1, 2019. The accountant is preparing the company's financial statements for the period ending May 31, 2018. The journal entry to record the interest on the loan on May 31, 2018 is: O Debit interest expense and credit cash $300 Debit interest expense and credit cash $100 Debit interest expense and credit interest payable $300 O Debit interest expense and credit interest payable $100