On November 1, Year 1, Dorian Collections Agency accepted a $100,000, 3-month note from a customer. The note earns 9% interest per year. What is the amount of interest receivable recorded by Dorian Collections Agency at December 31, Year 1? (Assume no other entries to record interest have been made.)
a. $9,000
b. $1,500
c. $750
d. $0, because interest is not due until February 1 of Year 2
e. $900
B
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