On July 9,Mifflin Company Receives a $8,500,90-Day,8% Note from Customer

Multiple Choice

On July 9,Mifflin Company receives a $8,500,90-day,8% note from customer Payton Summers as payment on account.What entry should be made on the maturity date assuming the maker pays in full?

A) Debit Notes Receivable $8,500;debit Interest Receivable $170;credit Sales $8,670.
B) Debit Cash $8,670;credit Interest Revenue $170;credit Notes Receivable $8,500.
C) Debit Cash $8,628;credit Interest Revenue $128;credit Notes Receivable $8,500.
D) Debit Cash $8,613;credit Interest Revenue $113;credit Notes Receivable $8,500.
E) Debit Cash $8 500;credit Notes Receivable $8,500.