M $($Mandatory$)($i$)$

On October $1,$ Year $1,$ Hartford Company issued a $$32,000$ face value discount note. The note had a $7\%$ discount rate and a one$-$year term to maturity. Which of the following would be included in the adjusting entry, dated December $31,$ Year $1,$ to recognize interest accrued since the issuance date?

Multiple Choice

$$ none of these answer choices are correct

$$ A credit to Interest Payable for $$560$

$$ A debit to Discount on Notes Payable of $$560$

$$ A debit to Interest Expense for $$560$