On January 1 of this year, Gertoni Lenders agrees to lend Ester Corp. $150,000. Ester Corp. signs a $150,000, 6%, 9-month loan. Interest is due at maturity.

What entry will Ester Corp. make to repay the loan on September 30, assuming no further adjusting entries have been made since June 30?

Question 39 options:

1)	Bank Loan Payable 156,750 Cash 156,750

2)	Bank Loan Payable 150,000 Interest Payable 6,750 Cash 156,750

3)	Interest Expense 3,375 Bank Loan Payable 150,000 Cash 153,375

4)	Interest Payable 4,500 Bank Loan Payable 150,000 Interest Expense 2,250 Cash 156,750