QUESTION 1 On October 1, Mystic Window Cleaners borrowed $50,000 from Falconville Credit Union on a 3-month, $50,000, 3% note. What entry must Mystic Window Cleaners make on December 31 before financial statements are prepared, assuming interest is payable at maturity? Please see the following information: Interest Expense 1,500 Interest Payable 1,500 Please see the following information: Interest Expense 375 Interest Payable 375 Please see the following information: Interest Payable 375 Interest Expense 375 Please see the following information: Interest Expense 1,500 Notes payable 1,500