7 c On January 1, 2018, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway paid $220.000 for the machine and is leasing it to Zone for $36,000 per year, an amount that will return 11% to Calloway. The present value of the lease payments is $220,000. The lease payments are due each January 1, beginning in 2018. What is the appropriate interest entry on December 31 2018? points Multiple Choice 005705 Cash 24,200 Interest revenue 24,200 Cash 20,240 Interest receivable 20,240 Interest receivable 20.240 Interest revenue Interest receivable 24.200 24,200