On July 1, 2024, Green Company accepted a

oneyear,

14%

note for

$7,000

in settlement of an overdue account receivable. The accounting period ends on December 31. What would be the journal entry to record the accrued interest at

yearend?

Question content area bottom

Part 1

A.

Interest Receivable	980
Interest Revenue		980

B.

Interest Receivable	980
Cash		980

C.

Interest Receivable	490
Interest Revenue		490

D.

Interest Revenue	490
Interest Receivable		490