Scott Company purchased equipment on November 1, 2010 and gave a 4-month, 4.5 percent note with a face value of $100,000. The December 31, 2010 adjusting entry is

Group of answer choices

debit Interest Expense and credit Interest Payable, $4,500.

debit Interest Expense and credit Interest Payable, $3,750.

debit Interest Expense and credit Cash, $750.

debit Interest Expense and credit Interest Payable, $750.