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On January 1 of this year, Sam Co. agrees to lend Tammy Corp. $150,000. Tammy Corp....

On January 1 of this year, Sam Co. agrees to lend Tammy Corp. $150,000. Tammy Corp. signs a $150,000, 6%, 9-month loan. Interest is due at maturity. The entry made by Tammy Corp. on January 1 to record the receipt of the loan is

1)

 Dr. Cash $150,000; Cr. Bank Loan Payable $150,000

2)

 Dr. Interest Expense $6,750; Dr. Cash $145,500; Cr. Bank Loan Payable $150,000

3)

 Dr. Cash $150,000; Dr. Interest Expense $6,750; Cr. Bank Loan Payable $156,750

4)

 Dr. Cash $150,000; Dr. Interest Expense $6,750; Cr. Bank Loan Payable $150,000; Cr. Interest Payable $6,750
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