On May 1, 20x5, you take out a loan in the amount of $ 377413 payable in two years. The interest rate charged on the loan, payable annually is 7%. The December 31, 20x5 adjusting entry will include a debit to:

Select one:

a. Interest expense in the amount of $26419

b. Interest expense in the amount of $17613

c. Interest payable in the amount of $17613

d. Interest expense in the amount of $52838