Prepare general journal entries for the transactions

When required, enter amounts to the nearest cent. If an amount box does not require an entry, leave it blank.

Jan. 16 Received a 30-day, 9% note in payment for merchandise sale of $19,400.

Feb. 15 Received $150 (interest) on the old (January 16) note: the old note is renewed for 30 days at 11%

Mar. 17 Received principal and interest on the new (February 15) note.

19 Received a 60-day, 9% note in payment for accounts receivable balance of $7,600.

May 18 Received $114 (interest) plus $1,000 principal on the old (March 19) note; the old note is renewed for 60 days (from May 18) at 9%.

July 17 Received principal and interest on the new (May 18) note

Assume 360 days in a year.