Tate Company purchased equipment on January 1, 2020 and gave a 3-year, 9% note with a face value of $80,000. The December 31, 2020 adjusting entry is Select one: O A. debit Interest Expense and credit Interest Payable, $1,800. B. debit Interest Expense and credit Cash, $1,200. O C. debit Interest Expense and credit Interest Payable, $7,200. O D. debit Interest Expense and credit Interest Payable, $1,200