On July 9, a company receives an $8500, 90-day 8% note from its customer as payment on account. What entry should be made on July 9 to record receipt of the note?

Debit Notes Receivable $8500; credit Sales $8500

Debit Notes Receivable $8670; credit Sales $8670

Debit Accounts Receivable $8500; Credit Sales $8500

Debit Notes Receivable $8725; credit Interest Revenue $225; credit Accounts Receivable $8500 (chosen answer)

Debit Notes Receivable $8500; credit Accounts Receivable $8500