A corporation borrowed money through an 9-month, 8% note for $120,000 on September 1, 2020. The note is due on May 31, 2021. The correct adjusting entry at year-end, December 31, 2020 (assuming no other adjustments had been made) would include an: Select one: a. Decrease to cash for $9,600 b. Decrease to interest payable for $7,200 c. Increase to interest payable for $3,200 d. Increase to interest payable for $9,600 e. Increase to interest expense for $2,400