On May 1, 2019, Mary Smith signed a $10,000 promissory note with Continental Bank. The note is due i

On May 1, 2019, Mary Smith signed a $10,000 promissory note with Continental Bank. The note is due in one year with 7% interest. What journal entry should Continental Bank prepare on May 1, 2019? O Debit Notes Receivable for $10,000 and credit Cash for $10,000. O Debit Cash for $10,700 and credit Accounts Receivable for $10,700. O Debit Cash for $10,000 and credit Notes Payable for $10,000. O Debit Notes Receivable for $10,700 and credit Cash for $10,700.