Techcom sold merchandise to a customer on October 17 of the current year and received a $4,800 90-day, 10% note as payment. What entry should TechCom make on January 15 of the next year when the note is collected?

1. CASH 4920

INTEREST REVENUE 120

NOTES RECEIVABLE 4800 WRONG

2. NOTES RECEIVABLE 7800

INTEREST RECEIVABLE 120

CASH 7920

3. CASH 4920

NOTES RECEIVABLE 4920

4. CASH 4920

NOTES RECEIVABLE 4800

INTEREST REVENUE 20

INTEREST RECEIVABLE 100

its one of these 4 choices