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Manx Company's bank statement shows that a note receivable of $15,000 and interest of $1,050 were collected by the bank on behalf of the depositor.

Manx Company's bank statement shows that a note receivable of $15,000 and interest of $1,050 were collected by the bank on behalf of the depositor. The entry required on the company's books is

a.debit Cash; debit Interest Expense; credit Notes Receivable.

b.debit Cash; credit Notes Receivable.

c.debit Cash; credit Interest Income; credit Notes Receivable.

d.debit Notes Receivable; credit Cash; credit Interest Income.

e.debit Cash; debit Interest Income; credit Notes Receivable.

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