On October 1, 2015, Jacobs Beach Umbrellas borrowed $5,000 on a 12%, one-year note payable. Interest was payable semiannually. A correct adjusting entry was made on December 31, 2015, and a correct reversing entry was made on January 1, 2016. The entry that should be made on March 31, 2016, is

a.

DR: Interest Expense $300; CR: Cash $ 300

b.

DR: Interest Expense $150; CR: Cash $150

c.

DR: Interest Payable $300; CR: Cash $300

d.

DR: Interest Expense $150; DR: Interest Payable $150; CR: Cash $ 300