Accounting for Notes Receivable Transactions Bob Lid. had the following transactions. May 1,2022 Accepted Crane Company's 12-month, 12\% note in settlement of a $16,000 accounts receivable. July 1,2022 Loaned $25,000 cash to Sam Howard on a 9-month, 10 s note. Dec. 31, 2022 Accrued interest on all notes receivable. Apr. 1,2023 Sam Howard dishonored its note; Bob expects that it will eventually collect. May 1, 2023 Received principal plus interest on the Crane note. Required: Prepare journal entries to record the transactions. Bob prepares adjusting entries once a year on December 31