On July 9, Mifflin Company receives a $10,200, 90-day, 6% note from customer Payton Summers as payment on account. What entry should be made on July 9 to record receipt of the note?

Multiple Choice

• Debit Notes Receivable $10,353; credit Sales $10,353.

• Debit Notes Receivable $10,200; credit Sales $10,200.

• Debit Notes Receivable $10,402; credit Interest Revenue $202; credit Accounts Receivable $10,200.

• Debit Notes Receivable $10,200; credit Accounts Receivable $10,200.

• Debit Accounts Receivable $10,200; credit Sales $10,200.