Pharoah Company receives a $11500, 6-month, 6% promissory note from Blue Spruce Corp. in settlement of an open accounts receivable. What entry will Pharoah Company make upon receiving the note?
a. Notes Receivable 11845 11845 Accounts Receivable-Blue Spruce Corp.
b. Notes Receivable 11500 Interest Receivable 345 11500 Accounts Receivable-Blue Spruce Corp. Interest Revenue 345
c. Notes Receivable 11500 11500 Accounts Receivable-Blue Spruce Corp. 11845
d. Notes Receivable Accounts Receivable-Blue Spruce Corp. 11500 Interest Revenue 345
