Explain SHOW WORK 10. Manning Manufacturers received a $60,000, 9%, 60-day note on March 1 from Cates Company in settlement of an accounts receivable.However, on May 1, the note was dishonored. Thus, the customer's account was charged for the note, including the interest.What entry was made by Manning Manufacturers on May 1?

a.Accounts ReceivableCates Company...................................... 60,000

Notes Receivable............................................................ 60,000

b.Accounts ReceivableCates Company...................................... 60,900

Notes ReceivableCates Company................................. 60,000

Interest Revenue............................................................ 900

c.Accounts ReceivableCates Company...................................... 60,000

Interest Expense...................................................................... 900

Notes ReceivableCates Company................................. 60,900

d.Notes ReceivableCates Company.......................................... 60,900

Accounts ReceivableCates Company............................... .. 60,000

Cash......................................................................................... 900