Smith Company purchased a building for $180 000 on January 1 in exchange for a one-year loan at 4% 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 319 O A Interest Payable Interest Expense 7.200 7 200 7 200 OB Interest Expense Interest Payable 7200 600 OC Interest Expense Interest Payable 600 OD. Interest Payable 500 600