On January 1, Bloomingdale, Inc. borrows $32,000 from First Estate Bank. The loan is due in one year along with 4% interest. The company is preparing its quarterly report for March 31. Which of the following best describes the necessary accrual for interest expense? Select one: AS 920 decrealabilities, decrease cach 0.53,680 increase the decrease expenses CS 920 increase abilities increase expenses 0.53,680 increase expenses, decrease cash E53,680 decrease liabilities. decrease cash