M. L. DiMaurizio had the following notes receivable transactions:

20-3

June 20 Received a $2,400, 30-day, 10% note from K. Lorenzo in payment for sale of merchandise.

July 20 K. Lorenzo paid the note plus interest.

25 Sold merchandise on account to R. Boone, $5,600.

Aug. 4 R. Boone paid $600 and gave a $5,000, 30-day, 12% note to extend time for payment.

Sept. 3 R. Boone paid the note plus interest.

10 Sold merchandise to T. Akins for $3,000: $400 plus a $2,600, 30-day, 11% note.

Oct. 10 T. Akins paid $600, plus interest, and extended the note ($2,000) for 30 days.

Nov. 9 T. Akins paid the note plus interest.

10 Sold merchandise on account to J. Brown, $5,000.

25 J. Brown paid $1,000 and gave a $4,000, 30-day, 12% note to extend time for payment.

Dec. 25 J. Brown’s note is dishonored.

20-4

Jan. 13 J. Brown’s dishonored note is collected, plus interest at 12% on the maturity value.

REQUIRED

Record the transactions in a general journal.