On November 1, 2015 , ABC Corp borrowed $100,000 cash on a 1 year, 6% note payable that requires ABC to pay both principal and interest on October 31,2016. Given no prior adjusting entries have been recorded, the adjusting journal entry on December 31, 2015, ABC's year end, would include a

A. credit to Cash of $1,000

B. credit to Interest Payable of $1,000

C. credit to Note Payable of $1,000

D. debit to Interest Expense of $6,000