Jasper makes a $81,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be:

Multiple Choice

• Debit Notes Receivable $81,000; credit Sales $81,000.

• Debit Notes Payable $81,000; credit Accounts Payable $81,000.

• Debit Accounts Receivable $81,000; credit Notes Receivable $81,000.

• Debit Notes Receivable for $81,000; credit Cash $81,000.

• Debit Cash $81,000; credit Notes Receivable for $81,000.