On November 1, 2014, Salem Corporation sold land priced at $380,000 in exchange for a 3%, six-month note receivable. 8. Required information The journal entry made by Salem to record this transaction on November 1, 2014, includes: A debit to Notes Receivable of $385,700. A debit to Interest Receivable of $5,700. A credit to Interest Revenue of $5,700. A debit to Notes Receivable of $380,000. 9. Required information Salem's balance sheet at December 31, 2014 includes which of the following as a result of the sale of land on November 1? Notes Receivable of $380,000 and Interest Receivable of $1,900. Notes Receivable of $385,700 and Interest Receivable of $1,900. Notes Receivable of $380,000 and Interest Receivable of $5,700. Notes Receivable of $380,000 only