On December 1, 2019, MAI Company Purchased $60,000 of Equipment

On December 1, 2019, MAI Company purchased $60,000 of equipment by issuing a 120-day, 10% note payable to Bank of Washington.
Assuming the company's accounting period ends on December 31, the journal entry recorded by MAI Company on the note maturity date will include:

A) Debit to Interest Expense for $1,500
B) Debit to Interest Payable for $1,500
C) Debit to Interest Payable for $1,000
D) Debit to Interest Expense for $500