2. On February 1, 2020, Great Things Company accepted a six-month note receivable as an extension of time for a balance of $19,000 owing from Climbing Company. The note has an annual interest rate of 6%. Great Things Company has a June 30 year-end.

Required a) Prepare the journal entry for Great Things Company when the note is signed.

Date	Account Title and Explanation	Debit	Credit
Feb 1
	To convert accounts receivable to a note receivable

b) Prepare the journal entry for the year-end adjustment.

Date	Account Title and Explanation	Debit	Credit
Jun 30
	To accrue interest at year-end

c) Climbing Company honored the note. Prepare the journal entry upon payment.

Round your answers to 2 decimal places. Enter credit entries in alphabetical order.

Date	Account Title and Explanation	Debit	Credit
Aug 1
	To receive note at maturity