Young Company Lends Dobson Industries $40,000 on August 1, 2014

Young Company lends Dobson industries $40,000 on August 1, 2014, accepting a 9-month, 12% interest note. If Young accrued interest at its December 31, 2014 year-end, what entry must it make to record the collection of the note and interest at its maturity date? $\begin{array}{lc}\text { a. Cash }.............................................................. & 43,600 & \\\quad\quad\quad \text { Notes Receivable} ..................................... & & 40,000 \\\quad\quad\quad \text { Interest Revenue } .................................... & & 3,600 \\\text { b. Cash}............................................................... & 43,600 & \\\quad\quad\quad \text { Notes Receivable} ..................................... & & 43,600 \\\text { c. Notes Receivable } .......................................... & 40,000 & \\\text { Interest Receivable } ............................................& 2,000 & \\\text { Interest Revenue } ............................................... & 1,600 & \\\quad\quad\quad \text { Cash } ....................................................... & & 43,600 \\\text { d. Cash} ............................................................... & 43,600 & \\\quad\quad\quad \text { Notes Receivable } ....................................& & 40,000 \\\quad\quad\quad \text { Interest Receivable } .................................& & 2,000 \\\quad\quad\quad \text { Interest Revenue } ....................................& & 1.600 \\ \end{array}$