Light Co. holds Dark Inc.'s $30,000, 120 day, 10% note. The entry made by Light Co. when the note is collected, assuming no interest has previously been accrued is:

a. Accounts Receivable....31,000
.........Notes Receivable.........30,000
.........Interest Revenue............1,000
b. Cash.......31,000
.........Notes Receivable.........30,000
.........Interest Revenue............1,000
c. Accounts Receivable....31,000
.........Notes Revenue.............30,000
.........Interest Revenue............1,000
d. Cash.......30,000
.........Notes Receivable..........30,000

Ans: b. Cash.......31,000
.........Notes Receivable.........30,000
.........Interest Revenue............1,000