USE THE FOLLOWING ON QUESTION #10:R&R Corporation borrows money from OBX Corp which is denoted as a note payable with the following details:Borrowing Date10/1/20X1Amount of Note Payable$300,000Length of Note until Maturity5MonthsAnnual Interest Rate3.00%Assume Interest is Paid only on the Maturity Date

10. What is the journal entry to accrue for interest expense, if it is necessary, at12/31/20X1.

A. Debit Interest Expense for $2,250 and Credit Interest Payable for $2,250

B. Debit Interest Expense for $9,000 and Credit Interest Payable for $9,000

D. No journal entry is necessary

C. Debit Interest Expense for $3,750 and Credit Interest Payable for $3,750