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The following selected transactions were completed by Fasteners inc. Co., a supplier of buttons and zippers for clothing: 20Y3 Nov, 21 Received from McKenna Outer Wear Co, on account, a $48,000,60-day, 6% note dated November 21 in settlement of a past due account. Dec. 31 Recorded an adjusting entry for accrued interest on the note of November 21. 20Y4 Jan. 20 Recelved payment of note and interest from McKenna Outer Wear Co. Required: Joumalize the entries to record the transactions. Refer to the chart of accounts for the exact wording of the account tities, CNOW: joumals do not use lines for joumal explanations. Every line on a joumal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered. If no entry is required, simply skip to the next transaction. Assume a 360-day year when calculating interest. CHART OF ACCOUNTS Fasteners Inc. Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111. Petty Cash 610 Interest Revenue 121 Accounts Receivable-McKenna Outer Wear Co. 129 Allowance for Doubtful Accounts EXPENSES 131 Interest Receivable 510 Cost of Merchandise Sold 132 Notes Receivable 520 Sales Salaries Expense 141 Merchandise Inventory 521 Advertising Expense 145 Office Supplies 522 Depreciation Expense-Store Equipment 146 Store Supplies 523 Delivery Expense 146 Store Supplies 523 Delivery Expense 151 Prepaid insurance 524 Repairs Expense 181 Land 529 Selling Expenses 191 Store Equipment 530 Office Salaries Expense 192 Accumulated Depreciation-Store Equipment 531 Rent Expense 193 Omice Equipment 532 Depreciation Expense-Office Equipment 194 Accumulated Depreciation-Otice Equipment 533 Insurance Expense 534 Office Supplies Expense LIABILITIES 535 Store Supplies Expense 210 Accounts Payable 536 Credit Card Expense 211 Salaries Payable. 537 Cash Short and Over 213 Sales Tax Payable 538. Bad Debt Expense 214 interest Payable 539 Miscellaneous Expense 215 Notes Payable 710 Interest Expense EQUITY 210 Accounts Payable 536 Credit Card Expense 211 Salaries Payable 537 Cash Short and Over 213 Sales Tax Payable 538 Bad Debt Expense 214 Interest Payable 539 Miscellaneous Expense 215 Notes Payable 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary Astame a 360 -dey yew when caculating interest Assume a J60-dey year when calculating interest