The correct spelling of the phrase "art receipt of" is /ɑrt rɪˈsit əv/. This means the act of receiving a piece of artwork. The word "art" is spelled with an 'a' and 'r' that are pronounced distinctly, while the word "receipt" is spelled with a silent 'p'. This word can be confusing to spell due to the different pronunciations of the letters. However, with practice and familiarity, it can be mastered. Correct spelling is important for clear communication in both written and spoken language.