On July 1, 2019 Light Co. loaned $20,000 to one of its customers and received a $20,000 Note Receivable from the customer on that date. On July 1, 2019, Light Co. recorded the receipt of the note. The note is due in 4 months, the annual interest rate on the note is 9%, and interest is calculated using simple interest. The customer will not make any interest payments to Light Co. until the note is due. On September 30, 2019, just before preparing financial statements, Light Co. made an adjusting journal entry to accrue 3 months of interest on the note. What entry should Light Co. make to accrue the 3 months of interest? Debit Credit A. Interest Receivable 600 Interest Revenue 600 B. Interest Revenue 450 Interest Receivable 450 C. Interest Receivable 1,800 Interest Revenue 1.800 D. Interest Receivable 450 Interest Revenue 450 Answer A Answer B Answer C Answer D None of the answers are correct. Refer to the information in the above question (question 21). What entry should Light Co. make when the customer pays-off the note? Debit Credit A. Cash 21,800 Notes Receivable 20,000 Interest Receivable 1.800 B. Cash 20,600 20,000 Notes Receivable Interest Receivable Interest Revenue 450 150 C. Cash 20,600 Notes Receivable 20,000 Interest Revenue 450 Interest Receivable 150 D. Cash 21,800 Notes Receivable 20,000 Interest Revenue 1.800 Answer A Answer B Answer C Answer D None of the answers are correct