On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway paid $290,000 for the machine and is leasing it to Zone for $32,000 per year, an amount that will return 10% to Calloway. The present value of the lease payments is $290,000. The lease payments are due each January 1, beginning in 2021. What is the appropriate interest entry on December 31, 2021? Multiple Choice Cash 29,000 Interest revenue 29,000 Interest receivable 29,000 Interest revenue 29,000 Interest receivable 25,800 Interest revenue 25,800 Cash Interest receivable 25,800 25,800