y courses / SP 2020-21-ACT 212 7 Topic 5! On 1 October 2020 ABCWorld purchased a building for $200 000, paying $75 000 as a deposit and giving the seller a 12% mortgage for the balance. The monthly repayment was $1 500. What is the entry to record the payment on 1 November 2020? Select one: a. Dr interest expense $1 250; Dr bank $250; Cr mortgage payable $1 500 b. Dr mortgage payable $1 500; Cr bank $1 500 c. Dr interest expense $1 250; Dr mortgage payable $250; Cr bank $1 500 d. Dr interest expense $1 500; Cr bank $1500 Nast