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What is the adjusting entry as at june

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Question - On 1 July 2018 BBA Limited arranged a bank loan of $100,000 at 12% interest per year. Interest is paid to the bank every 6 months, the interest for the period to 30 June 2019 is to be charged by the bank on 1 July. Loan repayments will commence in 2020. What is the adjusting entry as at 30 June 2019?

a. Debit Interest Expense $6,000; Cash at Bank $6,000.

b. Debit Interest Expense $12,000; Credit Interest Payable $12,000.

c. Debit Interest Payable $6,000; Credit Interest Expense $6,000.

d. Debit Interest Expense $6,000; Credit Interest Payable $6,000.

Reference no: EM133144089

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