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On September 1,2015, Barclay Spa borrowed $500,000 to renovate the massage therapy area of the...

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Accounting

On September 1,2015, Barclay Spa borrowed $500,000 to renovate the massage therapy area of the facility. The terms of the loan were 6% annually over 10 years. Determine how the accrued interest would appear on Barclay's budgeted balance sheet at December 31,2015.
Interest Payable $$10,000
Interest Expense -$12,000
Interest Payable $12,000
Interest Expense - $10,000
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