Verilux Company Sold Merchandise to Flight Corp

Verilux Company sold merchandise to Flight Corp.on November 1, 2014, for $10,000.Verilux accepted a promissory note from Flight Corp.for $10,000.The note has a term of 5 months and a stated interest rate of 7%.Verilux's accounting period ends on December 31, 2014.What amount should Verilux recognize as interest revenue on December 31, 2014?

A) $ -0-
B) $ 116.67
C) $ 291.67
D) $ 280.00