Prepare general journal entries to record the following transactions of Raines Company:

Dec. 9 Accepted a \(\$ 3,300,60\)-day, \(12 \%\) note dated this day in granting a time extension on the past-due account of Tom Linden.

31 Made an adjusting entry to record the accrued interest on the Tom Linden note.

31 Closed the Interest Earned account.

1990 Jan. 8 Discounted the Tom Linden note at the bank at \(14 \%\).

Feb. 10 Since notice protesting the Tom Linden note had not been received, assumed that it had been paid.

Mar. 2 Accepted a \(\$ 2,000,90\)-day, \(11 \%\) note dated this day in granting a time extension on the past-due account of Lois Goetz.

8 Discounted the Lois Goetz note at the bank at \(14 \%\).

June 1 Received notice protesting the Lois Goetz note. Paid the bank the maturity value of the note plus a \(\$ 25\) protest fee.

30 Received payment from Lois Goetz of the maturity value of her dishonored note, the protest fee, and interest on both for 30 days beyond maturity at \(11 \%\).

July 3 Accepted a \(\$ 1,500,60\)-day, \(10 \%\) note dated July 2 in granting a time extension on the past-due account of Janet Casey.

Aug. 31 Janet Casey dishonored her note when presented for payment.

Sept. 1 Accepted \(\$ 600\) in cash and a \(\$ 1,200,60\)-day, \(10 \%\) note dated this day in granting a time extension on the past-due account of Dick Beaumont.

Oct. 7 Discounted the Dick Beaumont note at the bank at \(13 \%\).

Nov. 1 Received notice protesting the Dick Beaumont note. Paid the bank its maturity value plus a \(\$ 25\) protest fee.

Dec. 28 Decided the Janet Casey and Dick Beaumont accounts were uncollectible and wrote them off against Allowance for Doubtful Accounts.