Smith Company purchased a building for $$150,000$ on January $1$ in exchange for a one $-$ year loan at $10\%$ with interest and note to be paid one year later. Assuming the company uses the accrual basis, what would be the adjusting entry on January $31?$

A$.$ Interest Payable $1,250$ Interest Expense $1,250$

B$.$ Interest Expense $15,000$ Interest Payable $15,000$

C$.$ Interest Expense $1,250$ Interest Payable $1,250$

D$.$ Interest Payable $15,000$ Interest Expense $15,000$