On December $1,2024,$ Old World Deli signed a $$300,000,5\%,$ six$-$month note payable with the amount borrowed plus accrued interest due six months later on June $1,2025.$ Old World Deli should record which of the following adjusting entries at December $31,2024?$

Multiple Choice

Debit Interest Expense and credit Cash, $$1,250$

Debit Interest Expense and credit Interest Payable, $$1,250$

Debit Interest Expense and credit Cash, $$7,500$

Debit Interest Expense and credit Interest Payable, $$7,500$