Paper Company receives a $4,241, 3-month, 9% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company make upon receiving the note?
a. Notes Receivable--Dame Company
$4,336
Accounts Receivable--Dame Company
$4,241
Interest Revenue
$95
b. Notes Receivable--Dame Company
$4,241
Accounts Receivable--Dame Company
$4,241
c. Notes Receivable--Dame Company
$4,336
Accounts Receivable--Dame Company
$4,336
d. Notes Receivable--Dame Company
$4,336
Interest Receivable
$95
Accounts Receivable--Dame Company
$4,241
Interest Receivable
$95