Reck company receives a 10000 3-month 8 promissory note

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Reference no: EM13598058

Reck Company receives a $10,000, 3-month, 8% promissory note from Fey Company in settlement of an open accounts receivable. What entry will Reck Company make upon receiving the note?

Notes Receivable 10,000
Interest Receivable 200
Accounts Receivable-Fey Company 10,000
Interest Revenue 200

Notes Receivable 10,000
Accounts Receivable-Fey Company 10,000

Notes Receivable 10,200
Accounts Receivable-Fey Company 10,200

Notes Receivable 10,200
Accounts Receivable-Fey Company 10,000
Interest Revenue 200

Reference no: EM13598058

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