On March $23,$ a company declared a dividend of $$2\mathrm{.}00$ per share to be paid on July $12$ to shareholders of record on June $6.$ There are $50,000$ shares outstanding.

What is needed in the journal entry to record the payment of the dividends on July $12?$

Credit to cash for $$100,000$

Credit to dividends for $$100,000$

Credit to paid$-$in capital in excess of par for $$100,000$

Credit to dividends payable for $$100,000$

$23$ On March $1,$ a company borrowed $$60,000$ under a one$-$year loan agreement. The annual interest rate is $6\%.$ As of the end of the year, no entry has yet been made to record the accrued interest on the loan.

Which debit or credit is correctly included in the adjusting journal entry necessary on December $31$ to record the unpaid interest?

Credit to cash for $$600.$

Credit to interest payable for $$600.$

Debit to interest expense for $$3,000.$

Debit to interest payable for $$3,000.$