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6, Jasper makes a $25,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity

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6, Jasper makes a $25,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity should be: A) Debit Cash for $25,000; credit Notes Receivable $25,000. B) Debit Cash $25,437.50; credit Interest Revenue $437.50; credit Notes Receivable $25,000 C) Debit Cash $25,437.50; credit Notes Receivable for $25,437.50. D) Debit Notes Payable $25,000; Debit Interest Expense $1,750; credit Cash $26,750

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