12. Prepare journal entries to record the following transactions entered into by Denver Company:

2019

June 1 April 1 Dec. 31 2020

April 1 May 1

Denver Co. loaned a $78,000, 5%, 11 months note to Barney Frank Sold goods to Minny Co. receiving a $15,000, 365-day, 6% note Accrued interest on all of the notes receivable.

Minny Co. honored its note.

Barney Frank dishonored his note. But Denver still expects a payment in the future.