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31. Sunland Company receives a $17000, 3-month, 8% promissory note from Blossom Company in settlement of an open accounts receivable. What entry will Sunland Company

31.

Sunland Company receives a $17000, 3-month, 8% promissory note from Blossom Company in settlement of an open accounts receivable. What entry will Sunland Company make upon receiving the note?

Notes Receivable 17340
Accounts ReceivableBlossomCompany 17340

Notes Receivable

 17340
Accounts ReceivableBlossomCompany 17000
Interest Revenue 340
Notes Receivable 17000
Interest Receivable 340
Accounts ReceivableBlossomCompany

17000
Interest Revenue 340
Notes Receivable 17000
Accounts ReceivableBlossomCompany 17000

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