XYZ Company lent $9,000 at 10% interest on December 1, 2019. The amount plus all interests accrued will be collected after 1 year. At the end of December, which of the following journal entry is required to take up the interest income?
Select one:
a. Debit Interest Revenue $75; Credit Interest Receivable $75
b. Debit Interest Receivable $75; Credit Interest Revenue $75
c. Debit Interest Receivable $900; Credit Unearned Revenue $900
d. Debit Cash $900; Credit Interest Revenue $900
