Record the following transactions for Conando Co. in the general journal.

2012
May    1  Received a $7,500, 1-year, 10% note in exchange for Andy Richter’s outstanding accounts receivable.
Dec. 31  Accrued interest on the Richter note.
Dec. 31  Closed the interest revenue account.
2013
May  1   Received principal plus interest on the Richter note. (No interest has been accrued in 2013.)