On November 1, Alan Company signed a 120-day, 9% note payable, with a face value of $60,000. 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.)

a. Debit Cash $60,900; credit Notes Payable $60,900

b. Debit Notes Payable $61,800; credit Interest Payable $900; credit Interest Expense $900; credit Cash $60,000

c. Debit Notes Payable $60,000; debit Interest Payable $900; debit Interest Expense $900; credit Cash $61,800.

d. Debit Notes Payable $60,000; debit Interest Payable $900; credit Cash $60,900.

e. Debit Notes Payable $60,000; debit Interest Expense $1,800; credit Cash $61,800.