Young Company lends Dobson industries $40,000 on August 1, 2022, accepting a 9- month, 9% interest note. If Young accrued interest at its December 31, 2022 year- end, what entry must it make to record the collection of the note and interest at its maturity date? 1) Cash 42,700 Notes Receivable 40,000 Interest Revenue 2,700 5 2) Cash 42,700 Notes Receivable 42,700 3) Notes Receivable 40,000 Interest Receivable 1,500 Interest Revenue 1,200 Cash 42,700 4) Cash 42,700 Notes Receivable 40,000 Interest Receivable 1,500 Interest Revenue 1,200