On November 1, Orpheum Company accepted a $12,500, 90-day, 33% note from a customer to settle a past-due account. What entry should be made onNovember 1 to record the note acceptance?

Debit Note Receivable $12,500; credit Cash $12,500.

Debit Note Receivable $12,500; credit Accounts Receivable $12,500.

Debit Note Receivable $12,500; credit Sales $12,500.

Debit Cash $12,500; credit Sales $12,500.

Debit Sales $12,500; credit Accounts Receivable $12,500.