ABC Corporation had the following transactions:

2020 01-Feb ABC loaned $20,000 To XYZ Corporation in exchange for a 6% 3 month note

28-Feb Made an adjusting entry to accrue interest on XYZ note.

01-May Collected the XYZ note. 01-Jun Received a 3 month 5% , $250,000 note from KLM Incorporated as settlement for their account.

31-Aug Collected the KLM Incorporated note. 01-Sep Sold goods to 123 Limited , receiving a $20,000 six month 5% note

01-Sep Sold the 123 Limited note to DMK Financing receiving $18,800 cash

Required: Prepare the journal entries to record the above transactions