A company lends a major client $90,000 for one year at a 7% annual interest rate. Interest payments are to be made twice a year but the company wants to recognize interest earned on a monthly basis. On a month in which the company does not receive any interest payments, interest is recorded with: Multiple Choice a debit to Cash of $525 and a credit to Interest Revenue of $525. a debit to Notes Receivable of $525 and a credit to Cash of $525. a debit to Interest Receivable of $525 and a credit to Interest Revenue of $525. o oo no adjusting entry, since no transaction has occurred