Accounting for Notes Receivable Instructions Chart Of Accounts General Journal Instructions Saracen Systems sells voice mail systems to small businesses. Saracen engaged in the following activities involving notes receivable: a. On October 1, Saracen sold an $7,800 system to Majors Company. Majors gave Saracen a 8-month, 8% note as payment. b. On November 1, Saracen sold a $4,200 system to Hadley Inc. Hadley gave Saracen a 10-month, 15% note as payment. c. On June 1, Majors paid the amount due on its note. d. On September 1, Hadley paid the amount due on its note. Required: Prepare the necessary journal and adjusting entries for Saracen Systems to record these transactions assuming a December 31 year end.