Record the following transactions for Taylor Co. in the general journal. 2017 May 1 Received a 7,500,

Question:

Record the following transactions for Taylor Co. in the general journal.
2017 May 1 Received a €7,500, 12-month, 8% note in exchange for Len Monroe's outstanding accounts receivable.
Dec. 31 Accrued interest on the Monroe note.
Dec. 31 Closed the interest revenue account.
2018 May 1 Received principal plus interest on the Monroe note. (No interest has been accrued in 2018.)