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Wildhorse Co. receives a $16000, 9-month, 10% promissory note from Metlock, Inc. in settlement of an open accounts receivable. What entry will Wildhorse Co. make

Wildhorse Co. receives a $16000, 9-month, 10% promissory note from Metlock, Inc. in settlement of an open accounts receivable. What entry will Wildhorse Co. make upon receiving the note?

Select answer from the options below

Notes Receivable

16000

Accounts Receivable-Metlock, Inc.

16000

Notes Receivable

17200

Accounts Receivable-Metlock, Inc.

16000

Interest Revenue

1200

Notes Receivable

16000

Interest Receivable

1200

Accounts Receivable-Metlock, Inc.

16000

Interest Revenue

1200

Notes Receivable

17200

Accounts Receivable-Metlock, Inc.

17200

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