Jasper makes a $88,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be: Multiple Choice Debit Notes Receivable $88,000; credit Sales $88,000. Debit Notes Receivable for $88,000; credit Cash $88,000. Debit Accounts Receivable $88,000; credit Notes Receivable $88,000. Debit Cash $88,000; credit Notes Receivable for $88,000. Debit Notes Payable $88,000; credit Accounts Payable $88,000.