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203 Nov. 21. Received from Mckenna Outer Wear Co2, on account, a $78,000,60-day, 8% note dated November 21 in settlement of a past due occount.

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203 Nov. 21. Received from Mckenna Outer Wear Co2, on account, a $78,000,60-day, 8% note dated November 21 in settlement of a past due occount. Dec 31. Recorded an adjusting entry for accrued interest on the note of November 21. 20r4 Jan, 20. Received payment of note and interest from Mckenna Outer Wear Co. Joumalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank, Assume a s60-day year when calculating interest. Round answers to the nearest dollar amount

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