Accrue one month of interest on the note receivable from Myers Manufacturing.

Journal entry worksheet Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three-month, 8% note receivable to replace the existing account receivable. Note: Enter debits before credits. Debit Credit Date May 31 Account Title Notes Receivable Accounts Receivable 8,700 8,700 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $8,700, and Myers agrees to pay within 30 days. Note: Enter debits before credits. Date Credit Account Title Accounts Receivable Service Revenue Debit 8,700 Apr 30 8,700 Journal entry worksheet Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three-month, 8% note receivable to replace the existing account receivable. Note: Enter debits before credits. Debit Credit Date May 31 Account Title Notes Receivable Accounts Receivable 8,700 8,700 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $8,700, and Myers agrees to pay within 30 days. Note: Enter debits before credits. Date Credit Account Title Accounts Receivable Service Revenue Debit 8,700 Apr 30 8,700