Question 2 On September 1, 2017, Banner Co. borrowed $70,000 from the City Bank for five months at 9%. Interest was properly accrued on December 31, 2017. What entry is needed to record the payment of the note and accrued interest on the due date? O Notes Payable 72,625 72,625 Cash Interest Expense Notes Payable 2,625 70,000 Cash 72,625 O Notes Payable 70,000 Interest Payable Interest Expense 2,100 525 Cash 72,625 O Interest Payable 2,625 70,000 Notes Payable Cash 72,625