On November 19, Nicholson Company receives a $16,200, 60-day, 10% note from a customer to replace an account receivable. What adjusting entry should be made by Nicholson on the December 31 year-end? (Use 360 days a year.)

Multiple Choice

Debit Notes Receivable $189; credit Interest Receivable $189.

Debit Interest Revenue $270; credit Interest Receivable $270.

Debit Interest Receivable $189; credit Interest Revenue $189.

Debit Notes Receivable $189; credit Interest Revenue $189.

Debit Interest Receivable $81; credit Interest Revenue $81.