Sunland Gifts signs a three-month, 9% note payable to help finance increases in inventory for the Christmas shopping season. The note is signed on November 1 for $58000. What is the adjusting entry to be made on December 31 for the interest expense accrued to that date, if no entries have been made previously for the interest? Select answer from the options below Interest Expense 870 Interest Payable 870 Interest Expense 5220 Interest Payable 5220 Interest Expense 1305 Interest Payable 1305 Interest Expense 5220 Note Payable 5220