On December 1, Victoria Company signed a 90-day, 6% note payable, with a face value of $15,000. Assuming the company does not prepare reversing entries, what is the journal entry to record the repayment of the note on March 1?

Multiple Choice

Debit Notes Payable, $15,000; Debit Interest Expense, $150; Debit Interest Payable, $75; Credit Cash, $15,225.

Debit Notes Payable, $15,000; Credit Cash, $15,000.

Debit Notes Payable, $15,225; Credit Cash, $15,225.

Debit Notes Payable, $15,000; Debit Interest Expense, $225; Credit Cash, $15,225.

Debit Notes Payable, $15,075; Debit Interest Expense, $150; Credit Cash, $15,225.