Really need help with what is probably very simple IR emitter/receiver question

Using Arduino General Electronics
2

Here's my take:

PIN
1 -- Anode of the of the LED -- Attach a 330ohm current-limiting resistor to +V
2 -- Cathode of the LED -- Attach to GND
3 -- Vcc -- Attach to +V
4 -- Vo -- attach to Arduino digital pin configured as an input (no need for internal pull-up resistor)
5 -- Gnd -- Attach to ground

Pin 4 should go low / high as the beam is interrupted