On December 1, 2019, Montgomery Company Accepts a $12,000, 90

On December 1, 2019, Montgomery Company accepts a $12,000, 90 day, 8% note from a customer. If Montgomery Company's accounting period ends on December 31, and the note is collected on March 1, 2020, which one of the following statements will be true for Montgomery Company?

A) On March 1, 2020, they will reduce Interest Receivable for $80
B) On December 31, 2019, they will reduce Interest Income for $80
C) On December 31, 2019, they will reduce Interest Receivable for $80
D) On March 1, 2020, they will increase Interest Revenue for $80