On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $57,000. Alan made the appropriate year-end accrual. What is the journal entry as of March 1 to record the payment of the note assuming no reversing entry was made?(Use 360 days a year.)

Debit Notes Payable $57,000; debit Interest Payable $950; debit Interest Expense $950; credit Cash $58,900.Debit Notes Payable $58,900; credit Interest Payable $950; credit Interest Expense $950; credit Cash $57,000.Debit Cash $57,950; credit Notes Payable $57,950.Debit Notes Payable $57,000; debit Interest Expense $1900; credit Cash $58,900.Debit Notes Payable $57,000; debit Interest Payable $950; credit Cash $57,950