Single Company buys inventory from Double Company on October 1 and gives a 2 month, 12% Note for $6,000. Single defaults on its payment on the maturity date of the Note. The entry that Single should make at this time includes

a)A debit to interest expense of $80 b)A debit to interest expense of $480 c)A credit to interest income of $80 d)None of the above e)A credit to interest income of $480