20 During the current year, Lee Corporation accepts the following notes receivable, On April 1, Lee provides services to a customer on account. The customer signs a four-month, 10% note for $10,000 On June 1, Lee lends cash to one of the company's executives by accepting a six-month, 8% note for $5,000. On November 1, Lee accepts payment for prior services by having a customer with a past-due account receivable sign a three-month, 9% note for $9,000. Required: Record the acceptance of each of the notes receivable. 2 ORE e 99 On March 1, Jakes & Associates provides legal services to Whole Wheat Bakery regarding some recent food poisoning complaints. Legal services total $20,000. In payment for the services, Whole Wheat Bakery signs a 10% note requiring the payment of the face amount and interest to Jakes & Associates on September 1. Required: For Jakes & Associates, record the acceptance of the note receivable on March 1 and the cash collection on September 1