Question: Concord Brothers Inc. loaned ( $ 1 2 7 0 0 0 ) to John Concord on December 1 . The note

Concord Brothers Inc. loaned \(\$ 127000\) to John Concord on December 1. The note has a \(12\%\) interest rate and a term of 3-months. At the end of the month, the company's records included the following tabular analysis:
December 31 entry:
Which of the following is correct for the (A,B,C,D)
A. records the collection of Interest Revenue earned during the month of December.
B. decreases the liability for Unearned Revenue.
C. accrues Interest Revenue for the month of December.
D. recognizes Interest Expense for the month of December.
Concord Brothers Inc. loaned \(\$ 127000\) to John Concord on December

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