Accounting for notes receivable (Learning Objective 6) 10–15 min.

Nisrine, Inc. has the following transactions related to notes receivable during the last month of the year. Journalize the transactions for Nisrine, Inc.

Dec 1 16 31 Loaned $20,000 cash to Wael on a 1-year, 6% note.

Sold goods to Loubna, receiving a $4,800, 60-day, 7% note.

Accrued interest revenue on all notes receivable.

AppendixLO1