On August 1, 2021, Turner Manufacturing lends cash and accepts a $7,000 note receivable that offers 10% interest and is due in nine months. How would Turner record the year-end adjustment to accrue interest in 2021? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)

A.Interest Revenue364Interest Receivable364B.Interest Receivable700Interest Revenue700C.Interest Receivable364Interest Revenue364D.Interest Receivable292Interest Revenue292

Multiple Choice

Option D

Option A

Option B

Option C