Redbird Company accepted a $8,000 interest-bearing note receivable from one of its clients on July 1. The note requires payment of 12% annual interest, and both the principal amount of the note and the interest will be due six months later, on December 31. If financial statements are prepared at the end of July, which of the following entries will Redbird have to make at the end of July?

A. Interest Revenue 80 Interest Receivable 80

B. Interest Receivable 160 Interest Revenue 160

C. Interest Receivable 80 Interest Revenue 80

D. Interest Revenue 160 Interest Receivable 160