The Buffalo Insurance Agency received the following notes during 2010:

Requirements 1. Identifying each note by number, compute interest using a 360-day year, and determine the due date and maturity value of each note.
2. Journalize a single adjusting entry on October 31,2010, to record accrued interest revenue on all three notes. Explanations are not required.
3. For note (1), journalize the collection of principal and interest at maturity. Explanations are not required.

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Note Date Principal Interest Rate 22 (1) Oct 23 $13,000 8% (2) Sep 30 $ 8,000 11% (3) Oct 7 $10,000 12% Term 1 year 2 months 45 days