On November 1, 2017, Salem Corporation sold land priced at $1,000,000 in exchange for a 6%, six-month note receivable. Salem's balance sheet at December 31, 2017 includes which of the following as a result of the sale of land on November 1? Multiple Choice
a) Notes Receivable of $1,000,000 and Interest Receivable of $10,000.
b) Notes Receivable of $1,030,000 and Interest Receivable of $10,000.
c) Notes Receivable of $1,000,000 and Interest Receivable of $30,000.
d) Notes Receivable of $1,000,000 only.