Marathon Running Shoes reports the following: 2012 May 4 Recorded Estate credit-card sales of $107,000, net of

Question:

Marathon Running Shoes reports the following:
2012
May 4 Recorded Estate credit-card sales of $107,000, net of processor fee of 3%.
Sep 1 Loaned $17,000 to Jean Porter, an executive with the company, on a one-year, 15% note.
Dec 31 Accrued interest revenue on the Porter note.
2013
Sep 1 Collected the value of the Porter note.
Requirement
1. Journalize all entries required for Marathon Running Shoes.

Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...