Oct. $1-$ Borrowed $$75,000$ from the Shankey Bank by signing a $12-$month, zero$-$interest$-$bearing $$81,000$

note. Now, you need to record the Dec $31$ interest that has accrued on the loan from Oct. $1.$ in Question

What is the journal entry?

Dec. $31$ Interest Expense $,1,500$

Discount on Notes Payable

Dec. $31$ Interest Expense

Discount on Notes Payable

Dec. $31$ Interest Payable

Discount on Notes Payable

Dec. $31$ Interest Expense

Interest Payable

$1,500$

$6,000$

$6,000$

$1,500$

$1,500$

$6,000$

$6,000$