On August 1,Jackson Radiology Signed a One-Year Note Receivable of $60,000

Multiple Choice

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 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 for $750,debit Interest Receivable for $3,750,and credit Interest Revenue for $4,500.