A Company Places $20,000 into a Money Market Account for Four

Multiple Choice

A company places $20,000 into a money market account for four months.The account is expected to pay 9 percent annual interest,compounded monthly.After one month,the entry to record interest earned is:

A) Short-Term Investments 150
Interest Income 150
B) Cash 150
Interest Income 150
C) Interest Income 150
Cash 150
D) Cash 150
Interest Receivable 150