On September 1, 2015, Barclay Spa borrowed $500,000 to renovate the massage therapy area of the facility. The terms of the loan were 6% annually over 10 years. Determine how the accrued interest would appear on Barclay's budgeted balance sheet at December 31, 2015. Select answer from the options below Interest Payable - $12,000 Interest Payable - $10,000 Interest Expense - $10,000 Interest Expense - $12,000