Record the following transactions lor Sandwich i'o. in the general journal. 2006 May 1 Received an $8,700.

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Record the following transactions lor Sandwich i'o. in the general journal.

2006 May 1 Received an $8,700. 1-year. 10".. note in exchange for Linda Andersons outstanding accounts receivable.

Dec. 31 Accrued interest on the Anderson note.

Dec. 31 Closed the interest revenue account.

2007 May 1 Received principal plus interest on the Anderson note. (No interest has been accrued in 2007.)

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