The journal entry to record the payment of a $50,000; 90 day; 9% interest bearing note payable at maturity (assuming a 360-day year) is

a.) Debit Cash $50,000; credit Notes Payable $50,000

b.) Debit Accounts Payable $51,125; credit Cash $51,125

c.)Debit Notes Payable $50,000; debit Interest Expense $1,125; credit Cash $51,125

d.) Debit Notes Payable $50,000; debit Interest Receivable $1,125; credit Cash $51,125