Grayson Bank agrees to lend the Trust Company $118,011 on January 1. Trust Company signs a $118,011, 11%, 9-month, interest-bearing note. The entry made by Trust Company on January 1 to record the proceeds and issuance of the note is: Select the correct answer. $9,736 $108,275 $118,011 $118,011 $118,011 Interest Expense Cash Notes Payable Cash Notes Payable Cash Interest Expense Notes Payable Cash Interest Expense Notes Payable Interest Payable $127,747 $9,736 $118,011 $132,615 $9,736 $118,011 $4,868