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Sheridan Company receives a $27000, 3-month, 8% promissory note rom Pharoah Company in sett ement o an open accounts recer able. what entry will Sheridan

Sheridan Company receives a $27000, 3-month, 8% promissory note rom Pharoah Company in sett ement o an open accounts recer able. what entry will Sheridan Co upon receiving the note? pany make Notes Receivable 27540 Accounts Recelvable-Pharoah Company 27540 O Notes Receivable 27000 Accounts Receivable-Pharoah Company 27000 Notes Recelvable 27000 Interest Receivable Accounts Receivable-Pharoah Company Interest Revenue 940 27000 540 Notes Receivable 27540 Accounts Receivable-Pharoah Company Interest Revenue 27000 540

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