On June 1, 2020, Balboa Company invests $60,000 in a 3-month CD that pays an annual interest rate of 2 percent. Assume that the CD matures on September 1 and that Balboa prepares financial statements at the end of each calendar month. Which of the following statements is true? Balboa will debit interest receivable by $100 on July 31. O Balboa will credit interest income by $200 on July 31. O Balboa will debit cash by $60,000 on June 1. O Balboa will report an interest payable liability of $300 on its August 31 balance sheet