Compute the accrued interest at the end of the year. Round interim calculations and final answer to the nearest cent. Assume 360 days in a year.

Maker Date of Note Principal Interest Term No. of Days K. Savelin 12/15/-- $1,000 5% 60 days 16 R. Hillier 12/3/-- 5,000 6 90 28 B. Miranda 11/30/- 2,800 8 90 31 R. Hansen 11/18/-- 7,500 7 120 43 Required: 1. Compute the accrued interest at the end of the year. Round interim calculations and final answer to the nearest cent. Assume 360 days in a year. 2. Prepare the adjusting entry in the general journal. Enter amounts to the nearest cent. If an amount box does not require an entry, leave it blank. Page: DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 1 20-- Dec. 31 Accrued Interest Receivable 1 58 2 Interest Revenue 2 3 3