A bake shop signs a three-month note payable to help finance increases in inventory for the Christmas shopping season The note is signed on October 1 in the amount of P84,000 with an annual interest of 12% 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? Debit Interest Expense 2,520; Credit Interest Payable 2,520 Debit Interest Expense 10,080; Credit Interest Payable 10,080 Debit Interest Expense 2,520; Credit Cash 2,520 Debit Interest Expense 2,520; Credit Note Payable 2,520