Moss County Bank agrees to lend the Sandhill Co. $635000 on January 1. Sandhill Co. signs a $635000, 6%, 9-month note. The entry made by Sandhill Co. on January 1 to record the proceeds and issuance of the note is
a
Interest Expense 28575
Cash 606425
Notes Payable 635000
b
Cash 635000
Interest Expense 28575
Notes Payable 635000
Interest Payable 28575
c
Cash 635000
Notes Payable 635000
d
Cash 635000
Interest Expense 28575
Notes Payable 663575
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