On October 1, Robins's Online Sales sold goods for $50,000 and accepted a six-month noninterest-bearing note. Current interest rates were 10%. The December 31 adjusting entry should be
A) Interest Receivable 2,500Interest Revenue 2,500
B) Discount on Notes Receivable 1,250Interest Revenue 1,250
C) Discount on Notes Receivable 2,500Interest Receivable 2,500
D) Interest Revenue 1,250Discount on Notes Receivable 1,250
B
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