On October $1,2022,$ a company sold some merchandise to a customer for $$70,000.$ In payment, the company agreed to accept an $8\%$ note requiring the receipt of interest and principal on June $30,2023.$ Assume all correct adjusting entries were made at year end December. $31,2022.$ The journal entry on the collection date, June $30,2023$ would include a:

Select one:

a$.$ $$1,400$ credit to interest receivable

b$.$ $$4,200$ credit to interest revenue

c$.$ $$74,200$ credit to cash

d$.$ $$1,400$ debit to interest payable

e$.$ $$2,800$ debit to interest revenue