Teller purchased merchandise from TechCom on October 17 of the current year. TechCom accepted Teller's $4,800, 90-day, 10% note as payment. What entry should TechCom make on January 15 of the next year when the note is paid?
A)

\begin{array} { | l | r | r | } \hline \text { Notes Receivable } & 4,800 & \\\hline \text { Interest Receivable } & 120 & \\\hline \text { Sales } & & 4,920 \\\hline\end{array}

\begin{array} { | l | r | r | } \hline \text { Cash } & 4,920 & \\\hline \text { Notes Receivable } & & 4,920 \\\hline\end{array}

\begin{array} { | l | r | r | } \hline \text { Cash } & 4,920 & \\\hline \text { Interest Revenue } & & 100 \\\hline \text { Interest Receivable } & & 20 \\\hline \text { Notes Receivable } & & 4,800 \\\hline\end{array}

\begin{array} { | l | r | r | } \hline \text { Cash } & 4,920 & \\\hline \text { Interest Revenue } & & 20 \\\hline \text { Interest Receivable } & & 100 \\\hline \text { Notes Receivable } & & 4,800 \\\hline\end{array}

\begin{array} { | l | r | r | } \hline \text { Cash } & 4,920 & \\\hline \text { Interest Revenue } & & 120 \\\hline \text { Notes Receivable } & & 4,800 \\\hline\end{array}

The Following Information Is from the Annual Financial Statements of Nancy

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