The Village of Monroe Borrowed $500,000 for a Period of Six

The Village of Monroe borrowed $500,000 for a period of six months using a tax anticipation note on November 1, 2019. The Village is charged interest on the borrowing at annual rate of 6 percent. The Village's fiscal year-end is December 31, 2019. What journal entry, if any, should be made in the Village's General Fund on December 31, 2019?
a.
$\begin{array}{l}\text { Expenditures-interest } &5,000\\\text { Interest payable }&&5,000\end{array}$

b.
$\begin{array}{l}\text { Expenditures-interest } &15,000\\\text { Interest payable }&&15,000\end{array}$

c.
$\begin{array}{lll}\text { Interest expense } & 5,000 & \\\text { Interest payable } && 5,000\end{array}$

d. No entry is required on December 31, 2019.