On July 9, Mifflin Company receives a $9,400, 90-day, 8% note from customer Payton Summers as payment on account. What entry should be made on July 9 to record receipt of the note?

A.) Debit Notes Receivable $9,400; credit Sales $9,400.
B.) Debit Accounts Receivable $9,400; credit Sales $9,400.
C.) Debit Notes Receivable $9,588; credit Sales $9,588.
D.) Debit Notes Receivable $9,649; credit Interest Revenue $249; credit Accounts Receivable $9,400.
E.) Debit Notes Receivable $9,400; credit Accounts Receivable $9,400.