11. A business extends credit of $12,000 to a customer to finance the purchase of goods on October 1st, 1988. The credit rate is 10% APR and no payments are due until a year from the date of the loan. As a result X: Interest receivable of $3,000 is debited on 12/31/88 Y: notes payable of $12,000 is credited on 10/1/89 A:X B: Y C: both X and Y D: neither X nor Y