accounting

On March 1. Krauss Company accepted a 60 dex, 6\$, 57,300 note tecelvable from I Summers in exchange for his account receivatle Read the sequirements Requirement 1. Journalize the iransacfon on March 1. (Recerd debls fist, then credes. Select the explanalion on the last line of the journal entry table) Requirements = 1. Joumalize the transaction on March 1 . 2. Journalive the adusting intry netded on March 31 to accrue interevt revnue Round to the nearest dolar 3. Journalue the collecton of the princeol and interest at maturit, Spucily the date. Rsund to the nearest dollar