Blossom Company receives a $13000, 6-month, 7% promissory note from Vaughn Manufacturing in settlement of an open

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Question:

Blossom Company receives a $13000, 6-month, 7% promissory note from Vaughn Manufacturing in settlement of an open accounts receivable. What entry will Blossom Company make upon receiving the note?

Notes Receivable

13000
Accounts Receivable-Vaughn Manufacturing

13000

Notes Receivable

13000
Interest Receivable

455

Accounts Receivable-Vaughn Manufacturing

13000
Interest Revenue

455

Notes Receivable

13455
Accounts Receivable-Vaughn Manufacturing

13455

Notes Receivable

13455
Accounts Receivable-Vaughn Manufacturing

13000
Interest Revenue

455