On October $1,$ Wayne Service borrows $$150,000$ from National Bank on a $3-$month, $$150,000,4\%$ note. What entry must Wayne make on December $31$ before financial statements are prepared?

Debit Interest Expense $1,500$

Credit Interest Payable $1,500$

Debit Interest Payable $1,500$

Credit Interest Expense $1,500$

Debit Interest Expense $6,000$

Credit Interest Payable $6,000$

Debit Interest Expense $1,500$

Credit Notes Payable $1,500$