Jackson County Bank agrees to lend the Balmer Company $$500,000$ on January

Balmer signs a $$500,000,6\%,9-$month note. The entry made by Balmer on January $1$ to record the proceeds and issuance of the note is

A$)$

Cash

Notes Payable

B$)$

Cash

Interest Expense

$500,000$

$500,000$

C$)$

$\backslash$table$[[$Cash$,500,000,],[$Interest Expense,$22,500,],[,$ Notes Payable,,$500,000],[$Interest Payable,$22,500,]]$

$$ D$)$

$\backslash$table$[[$In$,22,500],[$Cash$,477,500],[$Notes Payable,$]]$

$500,000$