M3-30. Preparing Entries Across Two Periods Hatcher Company closes its accounts on December 31 each year. On December 31. 20 I 8. Hatcher accrued $600 of interest income that was earned on an investment but not yet received or recorded (the investment will pay interest of $900 cash on January 31.2019). On January 31.2019, the company received the $900 cash as interest on the investment. Prepare journal entries to:

a. Accrue the interest earned on December 31. 2018;

b. Close the Interest Income account on December 31, 2018 (the account has a year-end balance of $2.400 after adjustments): and

c. Record the cash receipt of interest on January 31. 2019.