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On February 1, 2021, Sanger Corp. lends cash and accepts a $3,500 note receivable that offers 10% interest and is due in six months. What

On February 1, 2021, Sanger Corp. lends cash and accepts a $3,500 note receivable that offers 10% interest and is due in six months. What would Sanger record on August 1, 2021, when the borrower pays Sanger the correct amount owed? (Do not round intermediate calculations.) A. Cash 3,675 Interest Revenue 117 Notes Receivable 3,558 B. Cash 3,500 Accounts Receivable 3,500 C. Cash 3,675 Interest Revenue 175 Notes Receivable 3,500 D. Cash 3,675 Notes Receivable 3,675

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