On December 1,Victoria Company Signed a 90-Day,6% Note Payable,with a Face

Multiple Choice

On December 1,Victoria Company signed a 90-day,6% note payable,with a face value of $15,000.Assuming the company does not prepare reversing entries,what is the journal entry to record the repayment of the note on March 1?

A) Debit Notes Payable,$15,225; Credit Cash,$15,225.
B) Debit Notes Payable,$15,000; Credit Cash,$15,000.
C) Debit Notes Payable,$15,000; Debit Interest Expense,$225; Credit Cash,$15,225.
D) Debit Notes Payable,$15,000; Debit Interest Expense,$150; Debit Interest Payable,$75; Credit Cash,$15,225.
E) Debit Notes Payable,$15,075; Debit Interest Expense,$150; Credit Cash,$15,225.