On May 1, 2021, Markham Inc. purchased equipment valued at $150,000 from Lowrey Ltd. in exchange for a three-year, 5% note payable. All interest and principal will be paid on May 1, 2023. The adjusting entry that Markham will need to record for this transaction on December 31, 2021, will include a: Question 10 options: debit to Interest expense of $7,500 credit to Cash of $5,000 credit to Interest payable of $5,000 debit to Interest receivable of $7,500