5.7

Crowne Cleaning provides deaning services for Amber Inc, a business with four buildings. Crowne assigned different cleaning charges for each building based on the amount of square feet to be cleaned. The charges for the four buldings are $42,000,$37,000,$31,000, and $14,000. Amber secured this amount by signing a note bearing 8% interest on June 1. Required: 1. Prepare the journal entry to record the sale on June 1. If an amount box does not require an entry, leave it blank. 2. Determine how much interest Crowne will receive if the note is repaid on December 1 . 3. Prepare Crowne's journal entry to record the cash received to pay off the note and interest on December 1 . If an amount box does not require an entry, leave it blank