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Tamarisk Industries borrows $22800 at 7% annual interest for six months on October 1, 2022. Which is the appropriate entry to accrue interest if Tamarisk

Tamarisk Industries borrows $22800 at 7% annual interest for six months on October 1, 2022. Which is the appropriate entry to accrue interest if Tamarisk employs a December 31, 2022, fiscal year?

Dr Interest Expense $399 Cr Interest Payable $399

Dr Interest Expense $1596 Cr Interest Payable $1596

Dr Interest Expense $399 Cr Notes Payable $399

Dr Notes Payable $1596 Cr Interest Payable $1596

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