(Answered) Problemon august 1 jackson radiology signed a one-year note

Accounting

Problem

On August 1, Jackson Radiology signed a one-year note receivable of $60,000 with interest at of 15% payable every six months. Jackson properly accrued interest on the note on December 31. What journal entry would Jackson make on the following February 1 to record the interest payment received on that date?

A.Debit Cash for $750, debit Interest Receivable for $3,750, and credit Interest Revenue for $4,500
B.Debit Cash and credit Interest Revenue for $750
C.Debit Cash for $4,500, credit Interest Receivable for $3,750, and credit Interest Revenue for $750
D.Debit Cash and credit Interest Revenue for $4,500.

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