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2 (9) Prepare Journal Entries for Notes Receivable Akron Corporation engaged in the following transactions involving promissory notes in 20x1 and 20x2. 20x1 Sept. 1

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2 (9) Prepare Journal Entries for Notes Receivable Akron Corporation engaged in the following transactions involving promissory notes in 20x1 and 20x2. 20x1 Sept. 1 Sold land to Marge Bailey for $170,000. A 6-month, 7 percent note was received in exchange. Cost of the land was $170,000. Nov. 1 Received a 30-day, non-interest bearing note from Fred Hansen in settlement of his accounts receivable of $4,000. Dec. 1 Fred Hansen dishonored his note issued 30 days earlier Dec. 31 Recorded accrued interest for December only (not September - November) on the note received from Marge Bailey 20x2 Mar. 1 Received payment in full from Marge Bailey. Assume that all interest has already been accrued to the end of February but no cash receipt has been recorded. Journalire these trains in the war Evans AL the journal provided. Explanations are not needed. Akron reco entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date 20x1 dy 20x2 > Click if you would like to Show Work for this question: Open Show Work

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