On October 1, Sam's Painting Service borrows $80,000 from National Bank on a 3- month, $80,000, 4% note. What entry must Sam's Painting Service make on December 31 before financial statements are prepared? a) Debit Interest Payable, $800 and Credit Interest Expense, $800. b) Debit Interest Expense, $3,200 and Credit Interest Payable, $3,200. c) Debit Interest Expense, $800 and Credit Interest Payable, $800. d) Debit Interest Expense, $800 and Credit Notes Payable, $800