Kimmick Company paid Captain Company for merchandise with a $16,000, 60-day, 9%, note dated April 1. If Kimmick Company pays the note at maturity, what entry should Captain make at that time?

		debit	credit
a	Cash Interest income Notes receivable	17,440	1,440 16,000
B	Notes payable Interest expense Cash	16,000 1,440	17,440
C	Cash Interest income Notes payable	16,240	240 16,000
D	Notes payable Interest expense Cash	15,760 240	16,000