Question: Received a $6,000, 8%, 3-month note, dated November 1 from John Hoye in payment of his open accounts receivable. We have a calendar year end.

Received a $6,000, 8%, 3-month note, dated November 1 from John Hoye in payment of his open accounts receivable. We have a calendar year end. On February 1 received full payment of principal plus interest. The entry on February 1 is Select one: a debit cash 6,120; credit notes receivable 6,120 b. debit cash 6,120; credit notes receivable 6,000; credit interest receivable 40; credit interest revenue 80 c. debit cash 6,120; credit notes receivable 6,000; credit interest receivable 80; credit interest revenue 40 d. debit notes receivable 6,120; credit cash 6,120

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