On August 1, 2013, Ace Corporation accepted a note receivable in place of an outstanding accounts receivable in the amount of $123,965. The note is due in 90 days and has an interest rate of 8%. What would be the appropriate journal entry to record the receipt of cash at the maturity date?

Select one:

a.

Cash	123,965.00
Notes Receivable		123,965.00

b.

Notes Receivable	123,965.00
Interest Revenue	2,479.30
Cash		126,444.30

c.

Cash	126,444.30
Interest Revenue		2,479.30
Notes Receivable		123,965.00

d.

Notes Receivable	123,965.00
Accounts Receivable		123,965.00