The notes receivable of Nofa company, has a fair value of SAR 70,000 and a carrying amount of SAR 55,000.

The company decides on December 31, 2021, to use the fair value option for these receivables. On 31st Dec the

adjusting entry would be:

O a. Dr Notes Receivable 15,000 and Cr unrealized gain/loss Income 15,000

O b. Dr Notes Receivable S5,000 and Cr unrealized gain/loss Income 55,000

O c. Dr unrealized gain/loss Income 55,000 and Cr Notes Receivable 55,000

d. Dr unrealized gain/loss Income 15,000 and Cr Notes Receivable 15,000