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Akron Corporation engaged in the following transactions involving promissory notes in 19x1 and 19x2. Journalize these transactions in the journal provided. Explanations are not needed.

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Akron Corporation engaged in the following transactions involving promissory notes in 19x1 and 19x2. Journalize these transactions in the journal provided. Explanations are not needed. Akron records adjusting entries monthly. 1 Sold land to Marge Bailey for $100,000. A 6-month, 9 percent note was received in exchange. 1 Received a 30-day, non-interest bearing note from Fred Hansen in settlement of his accounts receivable of $1,000. 1 Fred Hansen dishonored his note issued 30 days earlier. 31 Recorded accrued interest for December on the note received from Marge Bailey. 1 Received payment in full from Marge Bailey

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