17 Rice Corporation Loaned $60 ,100 to another corporation on December 1 2004 and received a 3 - month , 8 % interest - bearing note with a face value of $60 , 100 . What adjusting entry should Rice make on December good A ) Debit Interest Receivable and credit Interest Revenue , $1 200 B ) Debit Cash and credit Interest Revenue , $400 ( ) Debit Interest Receivable and credit Interest Revenue , $400 D ) Debit Cash and credit Interest Receivable , $1 200